Cypress Wealth Advisors LLC Decreases Position in Intel Co. (NASDAQ:INTC)
Cypress Wealth Advisors LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 7.5% during the first quarter, HoldingsChannel reports. The firm owned 14,549 shares of the chip maker’s stock after selling 1,182 shares during the period. Cypress Wealth Advisors LLC’s holdings in Intel were worth $781,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. McGuire Investment Group LLC acquired a new stake in Intel during the 3rd quarter valued at $5,695,000. Twin Capital Management Inc. lifted its holdings in Intel by 4.5% during the 3rd quarter. Twin Capital Management Inc. now owns 417,590 shares of the chip maker’s stock valued at $19,748,000 after purchasing an additional 18,160 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in Intel by 3.9% during the 3rd quarter. Commonwealth Bank of Australia now owns 982,418 shares of the chip maker’s stock valued at $46,450,000 after purchasing an additional 37,252 shares during the last quarter. Bollard Group LLC lifted its holdings in Intel by 6.8% during the 3rd quarter. Bollard Group LLC now owns 32,925 shares of the chip maker’s stock valued at $1,557,000 after purchasing an additional 2,095 shares during the last quarter. Finally, Opus Investment Management Inc. lifted its holdings in shares of Intel by 17.8% during the third quarter. Opus Investment Management Inc. now owns 124,350 shares of the chip maker’s stock worth $5,881,000 after buying an additional 18,750 shares in the last quarter. 66.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Steven Ralph Rodgers sold 25,170 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $55.00, for a total value of $1,384,350.00. Following the transaction, the executive vice president now owns 48,140 shares in the company, valued at $2,647,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 1,254 shares of Intel stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $50.80, for a total value of $63,703.20. The disclosure for this sale can be found here. Insiders sold 65,024 shares of company stock worth $3,461,860 in the last 90 days. 0.02% of the stock is owned by company insiders.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 25th. The chip maker reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.02. Intel had a return on equity of 29.54% and a net margin of 29.04%. The company had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter last year, the business earned $0.87 earnings per share. Intel’s revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post 4.25 EPS for the current year.
A number of research firms have recently weighed in on INTC. New Street Research set a $65.00 target price on Intel and gave the stock a “buy” rating in a report on Tuesday, April 16th. Mizuho reissued a “buy” rating on shares of Intel in a report on Friday, April 26th. JPMorgan Chase & Co. reissued a “buy” rating and set a $64.00 target price on shares of Intel in a report on Friday, April 26th. SunTrust Banks lifted their target price on Intel to $56.00 and gave the stock a “buy” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Finally, Wells Fargo & Co downgraded Intel from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $54.17.
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.
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