Ropes Wealth Advisors LLC boosted its stake in Intel Corp. (NASDAQ:INTC) by 8.9% during the second quarter, Holdings Channel reports. The fund owned 67,995 shares of the chip maker’s stock after buying an additional 5,564 shares during the period. Ropes Wealth Advisors LLC’s holdings in Intel Corp. were worth $2,230,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. D. Scott Neal Inc. boosted its stake in shares of Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock valued at $163,000 after buying an additional 35 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Intel Corp. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,496 shares of the chip maker’s stock valued at $147,000 after buying an additional 37 shares during the last quarter. Hudock Capital Group LLC boosted its stake in shares of Intel Corp. by 0.4% in the second quarter. Hudock Capital Group LLC now owns 14,694 shares of the chip maker’s stock valued at $481,000 after buying an additional 62 shares during the last quarter. Accredited Investors Inc. boosted its stake in shares of Intel Corp. by 0.4% in the first quarter. Accredited Investors Inc. now owns 20,443 shares of the chip maker’s stock valued at $661,000 after buying an additional 73 shares during the last quarter. Finally, Fruth Investment Management boosted its stake in shares of Intel Corp. by 0.6% in the second quarter. Fruth Investment Management now owns 13,489 shares of the chip maker’s stock valued at $442,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Shares of Intel Corp. (NASDAQ:INTC) traded up 1.30% during midday trading on Friday, hitting $37.45. The stock had a trading volume of 19,123,944 shares. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.36. The stock has a market cap of $177.18 billion, a PE ratio of 18.16 and a beta of 1.09. The stock has a 50-day moving average of $36.86 and a 200 day moving average of $33.65.
Intel Corp. (NASDAQ:INTC) last posted its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. Intel Corp.’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
Several analysts have issued reports on INTC shares. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, June 21st. Argus restated a “buy” rating and issued a $41.00 target price on shares of Intel Corp. in a report on Wednesday, June 29th. Vetr upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $32.02 target price for the company in a report on Tuesday, June 28th. Canaccord Genuity upped their target price on Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, July 18th. Finally, Brean Capital upped their target price on Intel Corp. from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-two have issued a buy rating to the stock. Intel Corp. presently has an average rating of “Buy” and a consensus target price of $39.73.
In related news, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the sale, the chief executive officer now owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
About Intel Corp.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Corp. (NASDAQ:INTC).
Receive News & Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related companies with MarketBeat.com's FREE daily email newsletter.