22,357 Shares in Intel Co. (NASDAQ:INTC) Bought by Range Financial Group LLC

Range Financial Group LLC acquired a new stake in shares of Intel Co. (NASDAQ:INTCGet Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 22,357 shares of the chip maker’s stock, valued at approximately $1,108,000.

Other hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC boosted its stake in shares of Intel by 51.8% during the 1st quarter. Continuum Advisory LLC now owns 22,815 shares of the chip maker’s stock valued at $995,000 after purchasing an additional 7,790 shares in the last quarter. Avalon Investment & Advisory bought a new stake in Intel during the 1st quarter valued at approximately $211,000. Linscomb & Williams Inc. grew its holdings in shares of Intel by 4.9% during the 1st quarter. Linscomb & Williams Inc. now owns 217,354 shares of the chip maker’s stock worth $10,772,000 after acquiring an additional 10,085 shares during the period. Virtu Financial LLC raised its position in shares of Intel by 49.0% in the 1st quarter. Virtu Financial LLC now owns 125,260 shares of the chip maker’s stock worth $6,208,000 after acquiring an additional 41,191 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Intel by 60.7% in the 1st quarter. Advisors Asset Management Inc. now owns 402,553 shares of the chip maker’s stock valued at $19,951,000 after purchasing an additional 152,078 shares during the period. 61.52% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 7.2 %

Shares of INTC stock opened at $29.29 on Wednesday. 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 company has a market cap of $120.26 billion, a price-to-earnings ratio of 6.27, a PEG ratio of 1.86 and a beta of 0.65. Intel Co. has a 1 year low of $29.25 and a 1 year high of $56.28. The firm has a fifty day moving average price of $35.55 and a 200-day moving average price of $41.27.

Intel (NASDAQ:INTCGet Rating) last released its earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.41). The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $17.93 billion. Intel had a net margin of 26.03% and a return on equity of 16.65%. Intel’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. As a group, equities analysts predict that Intel Co. will post 2.25 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th were issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 4.98%. The ex-dividend date was Friday, August 5th. Intel’s dividend payout ratio is currently 31.26%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 14,800 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were purchased at an average cost of $33.86 per share, for a total transaction of $501,128.00. Following the transaction, the chief executive officer now directly owns 77,216 shares of the company’s stock, valued at $2,614,533.76. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on Intel from $40.00 to $35.00 and set an “underweight” rating for the company in a report on Friday, July 29th. Credit Suisse Group set a $45.00 price target on shares of Intel in a research report on Monday, August 1st. Wedbush decreased their target price on shares of Intel from $44.00 to $35.00 in a research note on Friday, July 29th. Bank of America dropped their price target on Intel from $47.00 to $39.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 29th. Finally, Rosenblatt Securities reduced their price objective on Intel from $40.00 to $30.00 and set a “sell” rating for the company in a research report on Friday, July 29th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $42.96.

Intel Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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