Procyon Private Wealth Partners LLC Sells 8,814 Shares of Intel Co. (NASDAQ:INTC)

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.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Wednesday, October 20th. The chip maker reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.60. The firm had revenue of $19.19 billion for the quarter, compared to analyst estimates of $18.22 billion. Intel had a return on equity of 28.74% and a net margin of 26.89%. During the same period last year, the company earned $1.11 EPS. As a group, equities analysts predict that Intel Co. will post 5.28 EPS for the current year.

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.

About Intel

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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