Intel Corporation (INTC) Position Boosted by Arete Wealth Advisors LLC
Arete Wealth Advisors LLC increased its holdings in Intel Corporation (NASDAQ:INTC) by 57.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,897 shares of the chip maker’s stock after buying an additional 5,791 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Intel were worth $536,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of INTC. Jackson Grant Investment Advisers Inc. boosted its stake in Intel by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 7,785 shares of the chip maker’s stock valued at $263,000 after purchasing an additional 29 shares in the last quarter. Conservest Capital Advisors Inc. lifted its position in shares of Intel by 0.6% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock valued at $302,000 after acquiring an additional 51 shares during the last quarter. Bank of Stockton lifted its position in shares of Intel by 0.4% during the 2nd quarter. Bank of Stockton now owns 16,321 shares of the chip maker’s stock valued at $550,000 after acquiring an additional 72 shares during the last quarter. Marathon Capital Management lifted its position in shares of Intel by 0.7% during the 2nd quarter. Marathon Capital Management now owns 10,986 shares of the chip maker’s stock valued at $371,000 after acquiring an additional 80 shares during the last quarter. Finally, Benin Management CORP lifted its position in shares of Intel by 0.3% during the 2nd quarter. Benin Management CORP now owns 26,055 shares of the chip maker’s stock valued at $879,000 after acquiring an additional 84 shares during the last quarter. 67.69% of the stock is owned by institutional investors and hedge funds.
Intel Corporation (INTC) opened at $43.35 on Monday. The company has a market cap of $202,880.00, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 1.60. Intel Corporation has a one year low of $33.23 and a one year high of $47.30.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. Intel had a net margin of 22.31% and a return on equity of 22.65%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. equities analysts expect that Intel Corporation will post 3.25 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, November 6th. Intel’s dividend payout ratio (DPR) is currently 38.25%.
A number of analysts have recently issued reports on INTC shares. Zacks Investment Research upgraded Intel from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Wednesday, September 6th. ValuEngine lowered Intel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Vetr upgraded Intel from a “buy” rating to a “strong-buy” rating and set a $41.56 target price for the company in a report on Thursday, August 24th. Credit Suisse Group restated an “outperform” rating on shares of Intel in a report on Thursday, August 31st. Finally, Stifel Nicolaus increased their target price on Intel from $41.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 20th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.68.
In related news, insider Stacy J. Smith sold 472,337 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $44.23, for a total value of $20,891,465.51. Following the completion of the sale, the insider now owns 265,298 shares of the company’s stock, valued at $11,734,130.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $46.73, for a total transaction of $66,543.52. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $71,777.28. The disclosure for this sale can be found here. Insiders sold 1,548,914 shares of company stock valued at $68,196,589 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
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Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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