Burt Wealth Advisors Cuts Position in Intel Co. (INTC)
Burt Wealth Advisors reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 26.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,644 shares of the chip maker’s stock after selling 1,297 shares during the period. Burt Wealth Advisors’ holdings in Intel were worth $139,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Financial Engines Advisors L.L.C. acquired a new position in Intel in the 3rd quarter valued at $119,000. Acrospire Investment Management LLC raised its holdings in Intel by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after acquiring an additional 1,900 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in Intel by 47.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock valued at $147,000 after acquiring an additional 1,233 shares during the last quarter. Winfield Associates Inc. raised its holdings in Intel by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after acquiring an additional 265 shares during the last quarter. Finally, Family Capital Trust Co raised its holdings in Intel by 350.0% in the 3rd quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock valued at $171,000 after acquiring an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 67.43% of the company’s stock.
In other Intel news, CEO Brian M. Krzanich sold 5,873 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $45.58, for a total value of $267,691.34. Following the transaction, the chief executive officer now owns 259,082 shares in the company, valued at approximately $11,808,957.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian M. Krzanich sold 8,659 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $49.40, for a total transaction of $427,754.60. Following the completion of the transaction, the chief executive officer now owns 263,382 shares in the company, valued at approximately $13,011,070.80. The disclosure for this sale can be found here. Insiders sold a total of 932,755 shares of company stock worth $41,387,752 in the last quarter. 0.08% of the stock is currently owned by company insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. Intel had a net margin of 15.30% and a return on equity of 24.33%. The firm had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.34 billion. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. analysts anticipate that Intel Co. will post 3.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.73%. This is a boost from Intel’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, February 6th. Intel’s dividend payout ratio is 60.61%.
Several research analysts have weighed in on INTC shares. KeyCorp reiterated a “buy” rating and issued a $50.00 price target on shares of Intel in a report on Friday, October 27th. Loop Capital reiterated a “buy” rating and issued a $49.00 price target (up from $45.00) on shares of Intel in a report on Friday, October 27th. Deutsche Bank reissued a “buy” rating and set a $45.00 price objective on shares of Intel in a research note on Friday, October 27th. B. Riley reissued a “buy” rating and set a $53.00 price objective on shares of Intel in a research note on Friday, October 27th. Finally, Mizuho reissued a “buy” rating and set a $47.00 price objective on shares of Intel in a research note on Friday, October 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-one have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $49.10.
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Intel Company Profile
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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