Ropes Wealth Advisors LLC grew its position in Intel Co. (NASDAQ:INTC) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,642 shares of the chip maker’s stock after acquiring an additional 1,861 shares during the quarter. Intel accounts for about 1.1% of Ropes Wealth Advisors LLC’s holdings, making the stock its 24th largest position. Ropes Wealth Advisors LLC’s holdings in Intel were worth $4,009,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in INTC. Charles Schwab Investment Advisory Inc. bought a new position in shares of Intel during the 2nd quarter worth approximately $204,242,000. Platinum Investment Management Ltd. lifted its position in shares of Intel by 192.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock worth $245,423,000 after buying an additional 3,098,600 shares during the period. Millennium Management LLC lifted its position in shares of Intel by 232.8% during the 1st quarter. Millennium Management LLC now owns 1,750,545 shares of the chip maker’s stock worth $91,168,000 after buying an additional 3,069,040 shares during the period. FIL Ltd increased its holdings in Intel by 71.2% during the 1st quarter. FIL Ltd now owns 6,385,865 shares of the chip maker’s stock valued at $332,575,000 after purchasing an additional 2,655,452 shares in the last quarter. Finally, Cantillon Capital Management LLC acquired a new stake in Intel during the 2nd quarter valued at $121,797,000. Institutional investors own 64.42% of the company’s stock.
Shares of Intel stock opened at $49.31 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. Intel Co. has a 12 month low of $42.04 and a 12 month high of $57.60. The firm has a market cap of $230.69 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.29 and a beta of 0.90.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The business had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. As a group, equities research analysts anticipate that Intel Co. will post 4.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.43%. Intel’s dividend payout ratio is presently 34.68%.
Intel announced that its board has initiated a share repurchase plan on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts recently weighed in on the company. ValuEngine raised Intel from a “sell” rating to a “hold” rating in a report on Saturday. DZ Bank cut Intel from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research note on Thursday. UBS Group cut Intel from a “buy” rating to a “hold” rating in a research note on Thursday. Macquarie set a $58.00 target price on Intel and gave the company a “buy” rating in a research note on Monday, November 19th. Finally, Nomura reissued a “buy” rating and issued a $55.00 target price on shares of Intel in a research note on Wednesday, November 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $55.47.
In other news, VP Kevin Thomas Mcbride sold 6,500 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the sale, the vice president now directly owns 14,271 shares in the company, valued at $649,758.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the sale, the executive vice president now owns 30,324 shares in the company, valued at $1,384,593.84. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
Intel Company Profile
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
Further Reading: Understanding Price to Earnings Ratio (PE)
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