Sicart Associates LLC Has $16.65 Million Stock Holdings in Intel Co. (NASDAQ:INTC)
Sicart Associates LLC reduced its holdings in Intel Co. (NASDAQ:INTC) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,355 shares of the chip maker’s stock after selling 11,683 shares during the quarter. Intel accounts for about 5.3% of Sicart Associates LLC’s investment portfolio, making the stock its 4th largest holding. Sicart Associates LLC’s holdings in Intel were worth $16,654,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in INTC. Modus Advisors LLC bought a new stake in shares of Intel in the second quarter worth about $25,000. Price Wealth LLC grew its holdings in shares of Intel by 119.5% during the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock worth $28,000 after buying an additional 251 shares in the last quarter. Lion Street Advisors LLC bought a new position in shares of Intel during the first quarter worth about $29,000. Marshall & Sullivan Inc. WA bought a new position in shares of Intel during the second quarter worth about $60,000. Finally, Horan Securities Inc. bought a new position in shares of Intel during the first quarter worth about $66,000. Institutional investors own 64.95% of the company’s stock.
In related news, CEO Robert Holmes Swan acquired 8,021 shares of the stock in a transaction on Friday, July 24th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the purchase, the chief executive officer now directly owns 293,594 shares in the company, valued at $14,679,700. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Navin Shenoy sold 2,847 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $48.18, for a total value of $137,168.46. Following the transaction, the executive vice president now owns 71,807 shares in the company, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. Company insiders own 0.04% of the company’s stock.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.12. The business had revenue of $19.73 billion during the quarter, compared to analysts’ expectations of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same period last year, the firm posted $1.06 EPS. On average, analysts predict that Intel Co. will post 4.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued 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 yield of 2.77%. Intel’s payout ratio is currently 27.10%.
INTC has been the subject of a number of research reports. Jefferies Financial Group increased their price objective on Intel from $53.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. KeyCorp upgraded Intel from a “sector weight” rating to an “overweight” rating and set a $82.00 price objective for the company in a report on Monday, June 15th. Royal Bank of Canada decreased their price objective on Intel from $52.00 to $48.00 and set an “underperform” rating for the company in a report on Friday, July 24th. Mizuho reiterated a “buy” rating and set a $63.00 price objective on shares of Intel in a report on Thursday, July 23rd. Finally, Citigroup reissued a “hold” rating and set a $58.00 price target on shares of Intel in a research report on Tuesday, June 23rd. Twelve investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the company. Intel has an average rating of “Hold” and a consensus target price of $61.67.
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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