Inverness Counsel LLC NY Increases Stake in Intel Co. (NASDAQ:INTC)

Inverness Counsel LLC NY grew its stake in Intel Co. (NASDAQ:INTC) by 21.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 572,315 shares of the chip maker’s stock after purchasing an additional 100,957 shares during the period. Intel comprises approximately 1.2% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 28th largest holding. Inverness Counsel LLC NY’s holdings in Intel were worth $32,130,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of INTC. Roble Belko & Company Inc raised its holdings in Intel by 125.9% in the 1st quarter. Roble Belko & Company Inc now owns 497 shares of the chip maker’s stock worth $32,000 after purchasing an additional 277 shares during the period. Harvest Group Wealth Management LLC purchased a new stake in shares of Intel in the second quarter valued at approximately $30,000. Smith Asset Management Group LP acquired a new position in shares of Intel during the 2nd quarter worth approximately $34,000. Simon Quick Advisors LLC lifted its holdings in Intel by 75.0% during the first quarter. Simon Quick Advisors LLC now owns 700 shares of the chip maker’s stock valued at $44,000 after purchasing an additional 300 shares in the last quarter. Finally, Grandview Asset Management LLC purchased a new position in Intel in the 1st quarter valued at about $25,000. 62.24% of the stock is owned by hedge funds and other institutional investors.

Shares of INTC traded up $0.13 during midday trading on Wednesday, reaching $54.65. The stock had a trading volume of 272,276 shares, compared to its average volume of 28,327,148. The company has a market cap of $221.72 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.50 and a beta of 0.60. The company’s fifty day simple moving average is $54.14 and its two-hundred day simple moving average is $57.73. Intel Co. has a 1-year low of $43.61 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.63.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 22nd. The chip maker reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.22. The company had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $17.80 billion. Intel had a return on equity of 27.24% and a net margin of 23.91%. Intel’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. On average, sell-side analysts forecast that Intel Co. will post 4.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Saturday, August 7th were issued a $0.3475 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Thursday, August 5th. Intel’s dividend payout ratio (DPR) is 26.23%.

Several analysts recently commented on INTC shares. Barclays dropped their price target on Intel from $58.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, July 23rd. Northland Securities began coverage on shares of Intel in a research report on Monday, July 19th. They set a “sell” rating and a $42.00 price target on the stock. Bank of America decreased their target price on shares of Intel from $62.00 to $52.00 and set an “underperform” rating on the stock in a research note on Friday, July 23rd. Citigroup upped their price target on Intel from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 23rd. Finally, reiterated a “hold” rating and set a $60.00 price target on shares of Intel in a report on Tuesday, July 6th. Eleven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.65.

Intel Company Profile

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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