Bridge Creek Capital Management LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,327 shares of the chip maker’s stock after selling 2,768 shares during the quarter. Intel makes up 1.7% of Bridge Creek Capital Management LLC’s holdings, making the stock its 24th biggest position. Bridge Creek Capital Management LLC’s holdings in Intel were worth $3,590,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Modus Advisors LLC purchased a new position in Intel during the second quarter valued at $25,000. Price Wealth LLC lifted its holdings in Intel by 119.5% during the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after purchasing an additional 251 shares in the last quarter. FAI Wealth Management lifted its holdings in Intel by 390.4% during the second quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 406 shares in the last quarter. Okabena Investment Services Inc. purchased a new position in Intel during the second quarter valued at $42,000. Finally, Demars Financial Group LLC purchased a new position in Intel during the second quarter valued at $43,000. Institutional investors own 64.41% of the company’s stock.
In other Intel news, CEO Robert Holmes Swan acquired 8,021 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the transaction, the chief executive officer now directly owns 293,594 shares of the company’s stock, valued at $14,679,700. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the completion of the sale, the executive vice president now owns 71,807 shares in the company, valued at $3,459,661.26. The disclosure for this sale can be found here. Insiders sold a total of 7,491 shares of company stock worth $365,878 over the last quarter. Insiders own 0.04% of the company’s stock.
Shares of NASDAQ:INTC traded up $0.31 on Friday, reaching $54.16. 23,421,388 shares of the company were exchanged, compared to its average volume of 29,674,551. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. Intel Co. has a 1-year low of $43.63 and a 1-year high of $69.29. The firm has a market cap of $230.34 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.72. The company has a 50-day moving average of $50.81 and a 200-day moving average of $55.53.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The business had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $18.54 billion. During the same period in the prior year, the company posted $1.06 EPS. As a group, analysts forecast that Intel Co. will post 4.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, November 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.44%. Intel’s dividend payout ratio (DPR) is presently 27.10%.
Several equities analysts have recently weighed in on the stock. Credit Suisse Group reissued a “buy” rating and issued a $70.00 price target on shares of Intel in a research note on Monday, August 24th. Zacks Investment Research downgraded shares of Intel from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Monday, July 27th. Barclays downgraded shares of Intel from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $58.00 to $48.00 in a research note on Friday, July 24th. UBS Group raised their price target on shares of Intel from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Northland Securities assumed coverage on shares of Intel in a research report on Friday, September 11th. They set a “sell” rating and a $48.00 price objective for the company. Twelve investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.24.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, 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 comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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