Monarch Capital Management Inc. Cuts Stake in Intel Co. (NASDAQ:INTC)

Monarch Capital Management Inc. cut its stake in Intel Co. (NASDAQ:INTC) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,683 shares of the chip maker’s stock after selling 894 shares during the quarter. Intel comprises about 2.4% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. Monarch Capital Management Inc.’s holdings in Intel were worth $6,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. Tributary Capital Management LLC acquired a new stake in shares of Intel during the fourth quarter valued at about $28,000. 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 valued at $28,000 after acquiring an additional 500 shares in the last quarter. Global Trust Asset Management LLC grew its stake in shares of Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock valued at $45,000 after acquiring an additional 2,442 shares in the last quarter. Virtus ETF Advisers LLC acquired a new stake in shares of Intel during the fourth quarter valued at about $48,000. Finally, Stevens First Principles Investment Advisors acquired a new stake in shares of Intel during the fourth quarter valued at about $53,000. 66.46% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on INTC. Mizuho raised their target price on Intel from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets downgraded Intel from an “outperform” rating to a “market perform” rating and set a $47.99 target price for the company. in a research note on Thursday, May 9th. Daiwa Capital Markets downgraded Intel from an “outperform” rating to a “neutral” rating in a research note on Monday, April 29th. Atlantic Securities began coverage on Intel in a research note on Monday, July 22nd. They set an “underweight” rating and a $38.00 target price for the company. Finally, Loop Capital began coverage on Intel in a research note on Monday. They set a “hold” rating and a $50.00 target price for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.19.

Shares of INTC stock opened at $45.70 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $48.87 and a two-hundred day moving average of $50.20. Intel Co. has a 52 week low of $42.36 and a 52 week high of $59.59. The company has a market cap of $207.50 billion, a P/E ratio of 9.98, a PEG ratio of 1.43 and a beta of 0.88.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The company had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $15.70 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. Intel’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts expect that Intel Co. will post 4.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid 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 yield of 2.76%. Intel’s payout ratio is currently 27.51%.

In other news, Director Reed E. Hundt sold 10,000 shares of Intel stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $52.45, for a total transaction of $524,500.00. Following the sale, the director now owns 44,400 shares of the company’s stock, valued at $2,328,780. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Navin Shenoy sold 8,552 shares of Intel stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total value of $400,062.56. Following the sale, the executive vice president now directly owns 68,833 shares in the company, valued at approximately $3,220,007.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,524 shares of company stock valued at $1,844,221. 0.02% of the stock is currently owned by insiders.

Intel 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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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