Lyell Wealth Management LP lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,782 shares of the chip maker’s stock after buying an additional 4,621 shares during the period. Lyell Wealth Management LP’s holdings in Intel were worth $4,534,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of INTC. Modus Advisors LLC acquired a new stake in Intel in the 2nd quarter valued at about $25,000. Price Wealth LLC raised its holdings in Intel by 119.5% in the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 251 shares during the period. Lion Street Advisors LLC bought a new position in Intel in the 1st quarter valued at about $29,000. Marshall & Sullivan Inc. WA bought a new position in Intel in the 2nd quarter valued at about $60,000. Finally, Horan Securities Inc. bought a new position in Intel in the 1st quarter valued at about $66,000. Institutional investors own 64.95% of the company’s stock.
Several research firms have weighed in on INTC. KeyCorp raised shares of Intel from a “sector weight” rating to an “overweight” rating and set a $82.00 price target on the stock in a report on Monday, June 15th. ValuEngine cut shares of Intel from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Morgan Stanley lowered their price target on shares of Intel from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Friday, July 24th. Roth Capital cut shares of Intel from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $75.00 to $55.00 in a report on Friday, July 24th. Finally, Raymond James raised shares of Intel from an “underperform” rating to a “market perform” rating and set a $75.00 target price on the stock in a report on Monday, April 6th. Twelve research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $61.67.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The firm had revenue of $19.73 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same quarter last year, the business posted $1.06 earnings per share. On average, analysts expect that Intel Co. will post 4.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. Intel’s dividend payout ratio (DPR) is presently 27.10%.
In other news, EVP Navin Shenoy sold 7,018 shares of Intel stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $59.83, for a total transaction of $419,886.94. Following the transaction, the executive vice president now owns 68,942 shares in the company, valued at $4,124,799.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert Holmes Swan purchased 8,021 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the acquisition, the chief executive officer now owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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