L & S Advisors Inc Reduces Stock Position in Intel Co. (NASDAQ:INTC)
L & S Advisors Inc trimmed its holdings in Intel Co. (NASDAQ:INTC) by 58.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 56,568 shares of the chip maker’s stock after selling 79,989 shares during the period. L & S Advisors Inc’s holdings in Intel were worth $2,708,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of INTC. Tuttle Tactical Management acquired a new position in Intel during the fourth quarter worth $2,033,000. Questar Asset Management Inc. acquired a new position in Intel during the fourth quarter worth $402,000. Harvey Investment Co. LLC lifted its stake in Intel by 12.2% during the fourth quarter. Harvey Investment Co. LLC now owns 22,978 shares of the chip maker’s stock worth $1,078,000 after purchasing an additional 2,500 shares in the last quarter. Exane Derivatives lifted its stake in Intel by 7.9% during the fourth quarter. Exane Derivatives now owns 84,208 shares of the chip maker’s stock worth $3,951,000 after purchasing an additional 6,135 shares in the last quarter. Finally, Telos Capital Management Inc. lifted its stake in Intel by 2.3% during the fourth quarter. Telos Capital Management Inc. now owns 76,412 shares of the chip maker’s stock worth $3,586,000 after purchasing an additional 1,716 shares in the last quarter. Institutional investors own 65.95% of the company’s stock.
Shares of NASDAQ INTC traded down $0.58 during midday trading on Friday, reaching $52.43. 2,514,529 shares of the company were exchanged, compared to its average volume of 19,875,556. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Intel Co. has a 1 year low of $42.36 and a 1 year high of $59.59. The stock has a fifty day simple moving average of $48.25 and a 200 day simple moving average of $49.89. The stock has a market cap of $229.56 billion, a P/E ratio of 11.45, a PEG ratio of 1.58 and a beta of 0.90.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.315 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.26 dividend on an annualized basis and a yield of 2.40%. Intel’s payout ratio is currently 27.51%.
Several analysts have recently issued reports on INTC shares. Citigroup reiterated a “neutral” rating and issued a $53.00 price objective (up from $50.00) on shares of Intel in a research note on Friday, July 26th. Roth Capital set a $60.00 price objective on Intel and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley raised their price target on Intel from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays restated a “sell” rating and issued a $40.00 price target on shares of Intel in a research note on Friday, July 26th. Finally, Benchmark assumed coverage on Intel in a research note on Tuesday, July 23rd. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have given a buy rating to the stock. Intel has an average rating of “Hold” and an average price target of $54.09.
In related news, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total value of $31,107.76. Following the completion of the sale, the executive vice president now owns 53,063 shares in the company, valued at $2,746,540.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Reed E. Hundt sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $52.45, for a total transaction of $524,500.00. Following the completion of the sale, the director now owns 44,400 shares of the company’s stock, valued at approximately $2,328,780. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,033 shares of company stock valued at $1,961,792. 0.02% of the stock is owned by insiders.
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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