Los Angeles Capital Management & Equity Research Inc. Decreases Position in Intel Co. (NASDAQ:INTC)

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Los Angeles Capital Management & Equity Research Inc. cut its stake in Intel Co. (NASDAQ:INTC) by 61.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 360,055 shares of the chip maker’s stock after selling 573,596 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Intel were worth $17,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BKD Wealth Advisors LLC grew its position in Intel by 4.2% in the 4th quarter. BKD Wealth Advisors LLC now owns 56,172 shares of the chip maker’s stock valued at $2,636,000 after acquiring an additional 2,276 shares in the last quarter. NuWave Investment Management LLC grew its position in shares of Intel by 1,436.6% during the fourth quarter. NuWave Investment Management LLC now owns 5,624 shares of the chip maker’s stock worth $264,000 after buying an additional 5,258 shares in the last quarter. Physicians Financial Services Inc. grew its position in shares of Intel by 7.6% during the fourth quarter. Physicians Financial Services Inc. now owns 29,860 shares of the chip maker’s stock worth $1,401,000 after buying an additional 2,102 shares in the last quarter. BB&T Corp grew its position in shares of Intel by 2.1% during the fourth quarter. BB&T Corp now owns 790,881 shares of the chip maker’s stock worth $37,116,000 after buying an additional 16,004 shares in the last quarter. Finally, Dfpg Investments Inc. acquired a new position in shares of Intel during the fourth quarter worth about $223,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

INTC stock traded up $1.23 on Tuesday, reaching $46.83. 871,043 shares of the company’s stock were exchanged, compared to its average volume of 24,398,116. The company has a fifty day moving average of $48.97. Intel Co. has a twelve month low of $42.36 and a twelve month high of $59.59. The company has a market cap of $203.69 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The firm had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. Intel’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that Intel Co. will post 4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, August 6th. Intel’s dividend payout ratio is presently 27.51%.

A number of equities analysts have recently commented on the company. Loop Capital assumed coverage on Intel in a research report on Monday. They set a “hold” rating and a $50.00 price objective for the company. Mizuho upped their price target on Intel from $52.00 to $58.00 and gave the company a “buy” rating in a report on Friday, July 26th. Goldman Sachs Group reaffirmed a “sell” rating and issued a $47.00 price target on shares of Intel in a report on Friday, July 26th. New Street Research set a $65.00 price target on Intel and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets downgraded Intel from an “outperform” rating to a “market perform” rating and set a $47.99 price target for the company. in a report on Thursday, May 9th. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.19.

In other Intel news, Chairman Andy D. Bryant sold 13,609 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total value of $699,094.33. Following the sale, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 601 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total value of $31,107.76. Following the completion of the sale, the executive vice president now directly owns 53,063 shares in the company, valued at approximately $2,746,540.88. The disclosure for this sale can be found here. Insiders have sold 36,524 shares of company stock worth $1,844,221 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Intel Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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