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

Procyon Private Wealth Partners LLC cut its position in Intel Co. (NASDAQ:INTC) by 19.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Group Wealth Management LLC bought a new position in Intel during the second quarter worth $30,000. Smith Asset Management Group LP bought a new position in Intel during the second quarter worth $34,000. Pacifica Partners Inc. boosted its position in Intel by 22.8% during the third quarter. Pacifica Partners Inc. now owns 1,076 shares of the chip maker’s stock worth $58,000 after purchasing an additional 200 shares during the period. Clear Perspectives Financial Planning LLC boosted its position in Intel by 189.2% during the second quarter. Clear Perspectives Financial Planning LLC now owns 1,070 shares of the chip maker’s stock worth $60,000 after purchasing an additional 700 shares during the period. Finally, Syverson Strege & Co boosted its position in Intel by 270.4% during the second quarter. Syverson Strege & Co now owns 1,200 shares of the chip maker’s stock worth $67,000 after purchasing an additional 876 shares during the period. 62.03% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Dion J. Weisler bought 10,351 shares of Intel stock in a transaction that occurred on Thursday, October 28th. The shares were acquired at an average cost of $48.11 per share, for a total transaction of $497,986.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank D. Yeary bought 10,000 shares of Intel stock in a transaction that occurred on Monday, October 25th. The stock was bought at an average price of $49.66 per share, for a total transaction of $496,600.00. The disclosure for this purchase can be found here. Insiders own 0.02% of the company’s stock.

A number of equities analysts have commented on INTC shares. Needham & Company LLC reduced their price objective on shares of Intel from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 22nd. Evercore ISI reduced their target price on shares of Intel from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, October 22nd. Northland Securities raised shares of Intel from an “underperform” rating to a “market perform” rating and set a $49.00 target price for the company in a research report on Monday, November 1st. Robert W. Baird reduced their target price on shares of Intel from $85.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, October 22nd. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $44.00 target price (down previously from $51.00) on shares of Intel in a research report on Friday, October 22nd. Eleven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.52.

Shares of NASDAQ INTC opened at $49.76 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.74 and a debt-to-equity ratio of 0.40. The company has a market cap of $202.37 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 1.25 and a beta of 0.52. Intel Co. has a 12 month low of $45.24 and a 12 month high of $68.49. The stock has a 50-day moving average price of $51.98 and a two-hundred day moving average price of $54.06.

Intel (NASDAQ:INTC) last issued its earnings results on Wednesday, October 20th. The chip maker reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.60. The firm had revenue of $19.19 billion during the quarter, compared to the consensus estimate of $18.22 billion. Intel had a return on equity of 28.74% and a net margin of 26.89%. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, sell-side analysts predict that Intel Co. will post 5.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Sunday, November 7th will be issued a dividend of $0.3475 per share. This represents a $1.39 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 4th. Intel’s dividend payout ratio (DPR) is currently 26.99%.

Intel Profile

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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