Gilman Hill Asset Management LLC increased its stake in Intel Co. (NASDAQ:INTC – Get Rating) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,629 shares of the chip maker’s stock after purchasing an additional 7,349 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Intel were worth $2,156,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Landmark Wealth Management LLC purchased a new position in shares of Intel in the first quarter valued at $31,000. Lansing Street Advisors purchased a new position in shares of Intel in the first quarter valued at $28,000. Lloyd Advisory Services LLC. grew its position in shares of Intel by 2,835.0% in the first quarter. Lloyd Advisory Services LLC. now owns 587 shares of the chip maker’s stock valued at $29,000 after purchasing an additional 567 shares in the last quarter. Emerald Advisers LLC purchased a new position in Intel during the first quarter worth about $38,000. Finally, Gibson Wealth Advisors LLC purchased a new position in Intel during the fourth quarter worth about $41,000. 61.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
INTC has been the subject of several recent analyst reports. UBS Group reduced their target price on Intel from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Tigress Financial restated a “buy” rating and set a $72.00 target price on shares of Intel in a research report on Friday, June 3rd. Citigroup dropped their price target on Intel from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Stifel Nicolaus started coverage on Intel in a research note on Wednesday, September 7th. They set a “hold” rating and a $32.00 price target for the company. Finally, Credit Suisse Group set a $45.00 price target on Intel in a research note on Monday, August 1st. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.96.
Intel Trading Down 1.8 %
Intel (NASDAQ:INTC – Get Rating) last posted its earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.40). Intel had a return on equity of 16.65% and a net margin of 26.03%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $17.93 billion. During the same quarter last year, the company posted $1.28 EPS. The firm’s revenue was down 17.3% on a year-over-year basis. On average, equities analysts anticipate that Intel Co. will post 2.25 earnings per share for the current fiscal year.
Intel Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.46 annualized dividend and a dividend yield of 5.30%. Intel’s payout ratio is currently 31.26%.
Insider Buying and Selling
In related news, CEO Patrick P. Gelsinger purchased 14,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were bought at an average price of $33.86 per share, for a total transaction of $501,128.00. Following the purchase, the chief executive officer now directly owns 77,216 shares of the company’s stock, valued at approximately $2,614,533.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.02% of the stock is currently owned by company insiders.
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.
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