Procyon Private Wealth Partners LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 19.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,576 shares of the chip maker’s stock after selling 8,814 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Intel were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Group Wealth Management LLC bought a new position in Intel in the 2nd quarter worth about $30,000. Smith Asset Management Group LP bought a new position in Intel in the 2nd quarter worth about $34,000. Pacifica Partners Inc. raised its holdings in shares of Intel by 22.8% in the 3rd quarter. Pacifica Partners Inc. now owns 1,076 shares of the chip maker’s stock valued at $58,000 after acquiring an additional 200 shares in the last quarter. Clear Perspectives Financial Planning LLC raised its holdings in shares of Intel by 189.2% in the 2nd quarter. Clear Perspectives Financial Planning LLC now owns 1,070 shares of the chip maker’s stock valued at $60,000 after acquiring an additional 700 shares in the last quarter. Finally, Syverson Strege & Co raised its holdings in shares of Intel by 270.4% in the 2nd quarter. Syverson Strege & Co now owns 1,200 shares of the chip maker’s stock valued at $67,000 after acquiring an additional 876 shares in the last quarter. Institutional investors and hedge funds own 62.03% of the company’s stock.
Shares of INTC stock opened at $49.76 on Thursday. The firm has a market cap of $202.37 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.25 and a beta of 0.52. Intel Co. has a fifty-two week low of $45.24 and a fifty-two week high of $68.49. The business’s 50 day moving average price is $51.98 and its 200-day moving average price is $54.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.74 and a current ratio of 2.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Sunday, November 7th will be given a $0.3475 dividend. The ex-dividend date is Thursday, November 4th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.79%. Intel’s dividend payout ratio is currently 26.99%.
In other news, Director Frank D. Yeary purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The shares were bought at an average cost of $49.66 per share, for a total transaction of $496,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dion J. Weisler purchased 10,351 shares of the company’s stock in a transaction that occurred on Thursday, October 28th. The shares were purchased at an average price of $48.11 per share, for a total transaction of $497,986.61. The disclosure for this purchase can be found here. 0.02% of the stock is currently owned by company insiders.
Several analysts have weighed in on the company. UBS Group cut Intel from a “buy” rating to a “neutral” rating and lowered their price target for the company from $73.00 to $58.00 in a report on Friday, October 22nd. BMO Capital Markets cut Intel from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $60.00 to $52.00 in a report on Tuesday, October 26th. Northland Securities raised Intel from an “underperform” rating to a “market perform” rating and set a $49.00 price target on the stock in a report on Monday, November 1st. Barclays lowered their price target on Intel from $50.00 to $45.00 and set an “underweight” rating on the stock in a report on Friday, October 22nd. Finally, Citigroup decreased their price objective on Intel from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, October 22nd. Eleven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.52.
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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