Eagle Ridge Investment Management Decreases Position in Intel Corp. (INTC)
Eagle Ridge Investment Management lowered its stake in shares of Intel Corp. (NASDAQ:INTC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 347,542 shares of the chip maker’s stock after selling 1,316 shares during the period. Intel Corp. comprises 2.6% of Eagle Ridge Investment Management’s holdings, making the stock its 3rd largest position. Eagle Ridge Investment Management’s holdings in Intel Corp. were worth $11,399,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Biondo Investment Advisors LLC increased its position in shares of Intel Corp. by 12.2% in the second quarter. Biondo Investment Advisors LLC now owns 97,155 shares of the chip maker’s stock valued at $3,187,000 after buying an additional 10,534 shares during the period. LS Investment Advisors LLC increased its position in shares of Intel Corp. by 2.0% in the second quarter. LS Investment Advisors LLC now owns 226,435 shares of the chip maker’s stock valued at $7,427,000 after buying an additional 4,368 shares during the period. Atwood & Palmer Inc. increased its position in shares of Intel Corp. by 0.8% in the second quarter. Atwood & Palmer Inc. now owns 610,949 shares of the chip maker’s stock valued at $20,039,000 after buying an additional 4,599 shares during the period. Middleton & Co Inc MA increased its position in shares of Intel Corp. by 37.4% in the second quarter. Middleton & Co Inc MA now owns 33,081 shares of the chip maker’s stock valued at $1,085,000 after buying an additional 9,000 shares during the period. Finally, Private Capital Advisors Inc. purchased a new position in shares of Intel Corp. during the second quarter valued at about $6,597,000. 64.77% of the stock is owned by institutional investors.
Intel Corp. (NASDAQ:INTC) traded up 0.08% on Friday, reaching $38.10. The company’s stock had a trading volume of 16,942,539 shares. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.31. The firm’s 50-day moving average price is $36.55 and its 200 day moving average price is $33.47. The company has a market cap of $180.25 billion, a P/E ratio of 18.48 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data 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. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Equities analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The firm also recently disclosed 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 2.73%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is 50.24%.
Several equities analysts have recently issued reports on the stock. Pacific Crest reissued a “buy” rating and set a $44.00 price target on shares of Intel Corp. in a report on Thursday. BlueFin Research restated a “buy” rating on shares of Intel Corp. in a research note on Monday, October 3rd. KeyCorp lifted their price objective on shares of Intel Corp. from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 3rd. Vetr upgraded shares of Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 price objective on the stock in a research note on Monday, September 26th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $38.00 price objective on shares of Intel Corp. in a research note on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Intel Corp. presently has a consensus rating of “Buy” and a consensus target price of $39.59.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $34.71, for a total value of $485,835.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian M. Krzanich sold 67,508 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 420,506 shares in the company, valued at $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Intel Corp. Company Profile
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.
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