Cypress Wealth Services LLC Decreases Position in Intel Co. (NASDAQ:INTC)
Cypress Wealth Services LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 27.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,796 shares of the chip maker’s stock after selling 3,782 shares during the quarter. Cypress Wealth Services LLC’s holdings in Intel were worth $627,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Probity Advisors Inc. purchased a new position in Intel in the 1st quarter worth $2,943,000. Manning & Napier Group LLC raised its stake in Intel by 0.5% in the 1st quarter. Manning & Napier Group LLC now owns 1,004,821 shares of the chip maker’s stock worth $64,307,000 after acquiring an additional 5,137 shares during the last quarter. JGP Wealth Management LLC raised its stake in Intel by 2.6% in the 1st quarter. JGP Wealth Management LLC now owns 55,001 shares of the chip maker’s stock worth $3,520,000 after acquiring an additional 1,386 shares during the last quarter. Mizuho Securities USA LLC purchased a new position in Intel in the 1st quarter worth $1,563,000. Finally, Mizuho Markets Cayman LP raised its stake in Intel by 94.1% in the 1st quarter. Mizuho Markets Cayman LP now owns 55,844 shares of the chip maker’s stock worth $3,574,000 after acquiring an additional 27,076 shares during the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.
INTC has been the subject of a number of research analyst reports. KeyCorp raised their target price on Intel from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, January 22nd. Sanford C. Bernstein set a $43.00 price target on Intel and gave the stock a “sell” rating in a research report on Wednesday, March 24th. UBS Group reaffirmed a “buy” rating and set a $73.00 price target on shares of Intel in a research report on Friday, April 23rd. Rosenblatt Securities reaffirmed a “sell” rating and set a $40.00 price target on shares of Intel in a research report on Tuesday, January 19th. Finally, Loop Capital increased their price target on Intel from $50.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, March 30th. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. Intel currently has an average rating of “Hold” and a consensus target price of $63.59.
Intel (NASDAQ:INTC) last issued its earnings results on Wednesday, April 21st. The chip maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.24. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $17.97 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 earnings per share. On average, equities analysts forecast that Intel Co. will post 4.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 7th will be paid a dividend of $0.3475 per share. The ex-dividend date of this dividend is Thursday, May 6th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.43%. Intel’s payout ratio is currently 28.54%.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, 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 comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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