Carnegie Capital Asset Management LLC Boosts Holdings in Intel Co. (NASDAQ:INTC)

Carnegie Capital Asset Management LLC lifted its stake in Intel Co. (NASDAQ:INTCGet Rating) by 38.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,350 shares of the chip maker’s stock after purchasing an additional 18,685 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Intel were worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of INTC. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Intel by 5.9% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,632 shares of the chip maker’s stock valued at $239,000 after purchasing an additional 258 shares during the period. Trail Ridge Investment Advisors LLC bought a new stake in shares of Intel during the 4th quarter valued at about $481,000. Blair William & Co. IL grew its stake in shares of Intel by 17.6% during the 4th quarter. Blair William & Co. IL now owns 756,301 shares of the chip maker’s stock valued at $38,949,000 after acquiring an additional 113,312 shares during the period. Clearstead Advisors LLC grew its stake in shares of Intel by 1.2% during the 4th quarter. Clearstead Advisors LLC now owns 157,338 shares of the chip maker’s stock valued at $8,103,000 after acquiring an additional 1,830 shares during the period. Finally, Rench Wealth Management Inc. grew its stake in shares of Intel by 1.8% during the 4th quarter. Rench Wealth Management Inc. now owns 118,153 shares of the chip maker’s stock valued at $6,085,000 after acquiring an additional 2,041 shares during the period. Hedge funds and other institutional investors own 61.52% of the company’s stock.

Intel Price Performance

Shares of INTC stock opened at $28.47 on Thursday. Intel Co. has a 1-year low of $28.42 and a 1-year high of $56.28. The stock’s 50-day moving average is $34.54 and its 200 day moving average is $40.53. The company has a market cap of $116.90 billion, a P/E ratio of 6.10, a PEG ratio of 1.71 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.86 and a quick ratio of 1.41.

Intel (NASDAQ:INTCGet Rating) last released its quarterly earnings results on Thursday, July 28th. The chip maker reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.40). Intel had a net margin of 26.03% and a return on equity of 16.65%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $17.93 billion. During the same quarter last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was down 17.3% compared to the same quarter last year. Research analysts predict that Intel Co. will post 2.25 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 5.13%. The ex-dividend date is Friday, November 4th. Intel’s dividend payout ratio is currently 31.26%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 14,800 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were bought at an average cost of $33.86 per share, with a total value of $501,128.00. Following the completion of the acquisition, the chief executive officer now owns 77,216 shares in the company, valued at $2,614,533.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INTC shares. Susquehanna Bancshares downgraded Intel to a “negative” rating and cut their price objective for the company from $40.00 to $33.00 in a research note on Friday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Intel from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 8th. Tigress Financial reiterated a “buy” rating and set a $72.00 price objective on shares of Intel in a research note on Friday, June 3rd. Sanford C. Bernstein set a $30.00 price target on Intel in a research note on Monday, September 12th. Finally, Rosenblatt Securities dropped their price target on Intel from $40.00 to $30.00 and set a “sell” rating for the company in a research note on Friday, July 29th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $42.96.

About Intel

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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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