SP Asset Management Reduces Position in Intel Co. (NASDAQ:INTC)

SP Asset Management lessened its position in shares of Intel Co. (NASDAQ:INTCGet Rating) by 3.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,332 shares of the chip maker’s stock after selling 1,836 shares during the quarter. SP Asset Management’s holdings in Intel were worth $2,247,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its position in Intel by 4.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 245,727 shares of the chip maker’s stock worth $12,178,000 after acquiring an additional 10,188 shares during the period. Intercontinental Wealth Advisors LLC lifted its position in Intel by 2.2% during the 1st quarter. Intercontinental Wealth Advisors LLC now owns 32,164 shares of the chip maker’s stock worth $1,594,000 after acquiring an additional 682 shares during the period. Clearstead Advisors LLC lifted its position in Intel by 1.6% during the 1st quarter. Clearstead Advisors LLC now owns 159,900 shares of the chip maker’s stock worth $7,925,000 after acquiring an additional 2,562 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in shares of Intel by 4.0% in the 1st quarter. Capital Investment Advisory Services LLC now owns 31,430 shares of the chip maker’s stock valued at $1,558,000 after buying an additional 1,198 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in shares of Intel by 5.6% in the fourth quarter. CWA Asset Management Group LLC now owns 11,831 shares of the chip maker’s stock valued at $609,000 after buying an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Intel Trading Down 0.8 %

NASDAQ INTC traded down $0.27 during mid-day trading on Friday, hitting $35.39. The company’s stock had a trading volume of 40,205,089 shares, compared to its average volume of 43,986,424. Intel Co. has a 52-week low of $35.18 and a 52-week high of $56.28. The stock’s fifty day simple moving average is $38.82 and its two-hundred day simple moving average is $44.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.86 and a quick ratio of 1.41. The firm has a market capitalization of $145.31 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62.

Intel (NASDAQ:INTCGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The chip maker reported $0.29 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.41). 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 in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was down 17.3% on a year-over-year basis. Research analysts expect that Intel Co. will post 2.26 EPS for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, August 5th. Intel’s dividend payout ratio (DPR) is 31.26%.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent analyst reports. Roth Capital reduced their target price on Intel from $48.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Tigress Financial reaffirmed a “buy” rating and set a $72.00 price target on shares of Intel in a research note on Friday, June 3rd. Citigroup lowered their price target on shares of Intel from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. TheStreet cut shares of Intel from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. Finally, The Goldman Sachs Group set a $30.00 price objective on shares of Intel in a research note on Friday, July 29th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $43.83.

Intel Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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