King Luther Capital Management Corp cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,072 shares of the chip maker’s stock after selling 3,943 shares during the quarter. King Luther Capital Management Corp’s holdings in Intel were worth $14,072,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quad Cities Investment Group LLC acquired a new position in shares of Intel during the 2nd quarter worth about $107,000. WP Advisors LLC acquired a new position in shares of Intel during the 2nd quarter worth about $137,000. Well Done LLC acquired a new position in shares of Intel during the 1st quarter worth about $156,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Intel during the 1st quarter worth about $191,000. Finally, R.M.SINCERBEAUX Capital Management LLC acquired a new position in shares of Intel during the 1st quarter worth about $208,000. 64.42% of the stock is currently owned by hedge funds and other institutional investors.

In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the transaction, the vice president now owns 14,271 shares in the company, valued at approximately $649,758.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the transaction, the executive vice president now owns 30,324 shares in the company, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,257 shares of company stock worth $624,095. Company insiders own 0.03% of the company’s stock.

Several research analysts have recently weighed in on the stock. BNP Paribas set a $53.00 price objective on shares of Intel and gave the stock a “neutral” rating in a research note on Tuesday. Northland Securities lowered shares of Intel from a “market perform” rating to an “under perform” rating in a research note on Tuesday. ValuEngine upgraded shares of Intel from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. DZ Bank lowered shares of Intel from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Thursday, November 29th. Finally, UBS Group lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Six research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Intel has an average rating of “Hold” and an average target price of $55.60.

Shares of NASDAQ:INTC opened at $48.37 on Friday. Intel Co. has a 12-month low of $42.04 and a 12-month high of $57.60. The company has a market cap of $223.39 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.25. Intel had a net margin of 21.91% and a return on equity of 29.64%. The firm had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.11 billion. Equities analysts expect that Intel Co. will post 4.53 earnings per share for the current fiscal year.

Intel declared that its Board of Directors has initiated a share buyback program on Thursday, November 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the chip maker to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.48%. Intel’s payout ratio is presently 34.68%.

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Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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