Teacher Retirement System of Texas Sells 362,821 Shares of Intel Co. (NASDAQ:INTC)
Teacher Retirement System of Texas lowered its position in Intel Co. (NASDAQ:INTC) by 27.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 973,709 shares of the chip maker’s stock after selling 362,821 shares during the quarter. Teacher Retirement System of Texas’ holdings in Intel were worth $46,611,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in INTC. Ogorek Anthony Joseph NY ADV grew its stake in shares of Intel by 500.0% during the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after purchasing an additional 500 shares during the period. Next Capital Management LLC acquired a new stake in shares of Intel during the second quarter worth $48,000. Virtus ETF Advisers LLC acquired a new stake in shares of Intel during the fourth quarter worth $48,000. Stevens First Principles Investment Advisors acquired a new stake in shares of Intel during the fourth quarter worth $53,000. Finally, Contravisory Investment Management Inc. grew its stake in shares of Intel by 234.1% during the second quarter. Contravisory Investment Management Inc. now owns 1,146 shares of the chip maker’s stock worth $55,000 after purchasing an additional 803 shares during the period. Institutional investors own 66.17% of the company’s stock.
INTC has been the subject of a number of analyst reports. Bank of America decreased their price objective on Intel from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Morgan Stanley lifted their price objective on Intel from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. SunTrust Banks reaffirmed a “buy” rating and set a $58.00 price objective (up from $54.00) on shares of Intel in a research note on Friday, July 26th. Robert W. Baird lifted their price objective on Intel from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group set a $58.00 price objective on Intel and gave the stock a “buy” rating in a research note on Thursday, May 9th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.19.
INTC stock traded down $0.23 during midday trading on Friday, hitting $46.55. 5,208,870 shares of the company’s stock were exchanged, compared to its average volume of 26,150,214. The stock’s fifty day moving average price is $48.71 and its 200-day moving average price is $50.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. The company has a market cap of $206.44 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. Intel Co. has a one year low of $42.36 and a one year high of $59.59.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. On average, analysts expect that Intel Co. will post 4.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.71%. Intel’s dividend payout ratio (DPR) is 27.51%.
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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