South State Corp trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 7.9% in the second quarter, HoldingsChannel.com reports. The fund owned 191,814 shares of the chip maker’s stock after selling 16,464 shares during the period. Intel accounts for 1.1% of South State Corp’s holdings, making the stock its 26th largest position. South State Corp’s holdings in Intel were worth $9,535,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Elmwood Wealth Management Inc. purchased a new position in Intel during the 1st quarter valued at about $110,000. Financial Gravity Wealth Inc. acquired a new stake in Intel in the 1st quarter valued at about $120,000. WP Advisors LLC acquired a new stake in Intel in the 2nd quarter valued at about $137,000. Well Done LLC acquired a new stake in Intel in the 1st quarter valued at about $156,000. Finally, PDS Planning Inc acquired a new stake in Intel in the 1st quarter valued at about $159,000. Institutional investors own 65.40% of the company’s stock.
INTC has been the topic of a number of analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $60.00 price target (down previously from $65.00) on shares of Intel in a research report on Thursday, July 5th. Robert W. Baird set a $64.00 price target on Intel and gave the company a “buy” rating in a research report on Thursday, July 12th. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $60.00 price target on shares of Intel in a research report on Monday, July 16th. Stifel Nicolaus reaffirmed a “neutral” rating and issued a $60.00 price target on shares of Intel in a research report on Monday, July 16th. Finally, Citigroup lowered Intel from a “buy” rating to a “neutral” rating and set a $64.00 price target on the stock. in a research report on Friday, July 27th. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. Intel currently has a consensus rating of “Hold” and an average price target of $55.33.
Shares of NASDAQ INTC opened at $45.40 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. Intel Co. has a fifty-two week low of $42.04 and a fifty-two week high of $57.60. The stock has a market cap of $213.75 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.20 and a beta of 0.97.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $18.11 billion. Equities analysts forecast that Intel Co. will post 4.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is 34.68%.
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.
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