Intel Co. (NASDAQ:INTC) Shares Sold by Biechele Royce Advisors

Biechele Royce Advisors decreased its holdings in Intel Co. (NASDAQ:INTC) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,463 shares of the chip maker’s stock after selling 8,606 shares during the quarter. Intel comprises 5.3% of Biechele Royce Advisors’ investment portfolio, making the stock its 6th largest holding. Biechele Royce Advisors’ holdings in Intel were worth $8,464,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in INTC. Sage Rhino Capital LLC raised its position in Intel by 5.4% during the 2nd quarter. Sage Rhino Capital LLC now owns 10,098 shares of the chip maker’s stock worth $604,000 after buying an additional 516 shares during the last quarter. Lyell Wealth Management LP raised its position in Intel by 6.5% during the 2nd quarter. Lyell Wealth Management LP now owns 75,782 shares of the chip maker’s stock worth $4,534,000 after buying an additional 4,621 shares during the last quarter. TradeLink Capital LLC purchased a new position in Intel during the 2nd quarter worth $646,000. Washington Trust Bank raised its position in Intel by 10.0% during the 2nd quarter. Washington Trust Bank now owns 24,887 shares of the chip maker’s stock worth $1,489,000 after buying an additional 2,268 shares during the last quarter. Finally, Ballast Advisors LLC raised its position in Intel by 15.1% during the 2nd quarter. Ballast Advisors LLC now owns 7,632 shares of the chip maker’s stock worth $457,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.

Shares of Intel stock traded down $0.26 during mid-day trading on Friday, hitting $47.73. 46,569,883 shares of the stock were exchanged, compared to its average volume of 36,590,264. Intel Co. has a twelve month low of $43.63 and a twelve month high of $69.29. The stock has a market capitalization of $203.00 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.78. The company has a 50-day simple moving average of $58.00 and a 200 day simple moving average of $59.19. 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 (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $18.54 billion. During the same period last year, the company earned $1.06 EPS. Equities research analysts forecast that Intel Co. will post 4.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. Intel’s dividend payout ratio is currently 27.10%.

In related news, EVP Navin Shenoy sold 2,847 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the sale, the executive vice president now directly owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Holmes Swan bought 8,021 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was bought at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the completion of the transaction, the chief executive officer now directly owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

A number of equities analysts have commented on the stock. Charter Equity restated a “hold” rating on shares of Intel in a research report on Friday, July 24th. Morgan Stanley cut their price objective on shares of Intel from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday, July 24th. Raymond James upgraded shares of Intel from an “underperform” rating to a “market perform” rating and set a $75.00 price objective for the company in a research report on Monday, April 6th. Royal Bank of Canada cut their price objective on shares of Intel from $52.00 to $48.00 and set an “underperform” rating for the company in a research report on Friday, July 24th. Finally, Exane BNP Paribas downgraded shares of Intel from an “outperform” rating to an “underperform” rating and set a $47.00 price target for the company. in a report on Friday, July 24th. Twelve analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.67.

Intel Company 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.

Further Reading: Sell-Side Analysts

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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