Ritholtz Wealth Management Grows Stock Holdings in Intel Co. (NASDAQ:INTC)

Ritholtz Wealth Management boosted its position in Intel Co. (NASDAQ:INTCGet Rating) by 12.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 53,146 shares of the chip maker’s stock after acquiring an additional 5,920 shares during the period. Ritholtz Wealth Management’s holdings in Intel were worth $1,988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Intel in the 4th quarter valued at $2,080,248,000. Capital World Investors lifted its holdings in shares of Intel by 201.3% during the 1st quarter. Capital World Investors now owns 38,364,844 shares of the chip maker’s stock valued at $1,901,362,000 after acquiring an additional 25,630,363 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock valued at $814,727,000 after acquiring an additional 16,074,485 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Intel by 3.0% during the 1st quarter. BlackRock Inc. now owns 341,450,251 shares of the chip maker’s stock valued at $16,922,274,000 after acquiring an additional 10,103,061 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Intel by 3.7% during the 4th quarter. State Street Corp now owns 177,117,083 shares of the chip maker’s stock valued at $9,121,530,000 after acquiring an additional 6,279,484 shares in the last quarter. 61.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on INTC. Susquehanna Bancshares lowered shares of Intel to a “negative” rating and reduced their target price for the company from $40.00 to $33.00 in a report on Friday, July 29th. StockNews.com lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Credit Suisse Group set a $45.00 price objective on shares of Intel in a report on Monday, August 1st. Rosenblatt Securities cut their price objective on shares of Intel from $40.00 to $30.00 and set a “sell” rating on the stock in a report on Friday, July 29th. Finally, The Goldman Sachs Group set a $30.00 price objective on shares of Intel in a report on Friday, July 29th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.96.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 14,800 shares of Intel stock in a transaction dated Wednesday, August 24th. The stock was bought at an average cost of $33.86 per share, with a total value of $501,128.00. Following the purchase, the chief executive officer now owns 77,216 shares in the company, valued at approximately $2,614,533.76. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.02% of the stock is currently owned by company insiders.

Intel Stock Performance

Intel stock traded down $0.50 during midday trading on Friday, reaching $27.57. 812,658 shares of the stock traded hands, compared to its average volume of 39,319,704. The company has a current ratio of 1.86, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $34.34 and a two-hundred day moving average price of $40.39. The firm has a market cap of $113.20 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 1.68 and a beta of 0.65. Intel Co. has a fifty-two week low of $28.04 and a fifty-two week high of $56.28.

Intel (NASDAQ:INTCGet Rating) last posted its earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.40). The firm had revenue of $15.30 billion for the quarter, compared to analyst estimates of $17.93 billion. Intel had a net margin of 26.03% and a return on equity of 16.65%. The company’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, equities research analysts forecast that Intel Co. will post 2.25 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Friday, November 4th. Intel’s payout ratio is 31.26%.

Intel Company Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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