Intel Co. (NASDAQ:INTC) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 21.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,281 shares of the chip maker’s stock after selling 49,370 shares during the period. Lord Abbett & CO. LLC’s holdings in Intel were worth $10,346,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Aviance Capital Partners LLC increased its stake in Intel by 1.0% during the 2nd quarter. Aviance Capital Partners LLC now owns 18,479 shares of the chip maker’s stock valued at $1,037,000 after buying an additional 186 shares during the period. River Wealth Advisors LLC increased its stake in Intel by 0.7% during the 2nd quarter. River Wealth Advisors LLC now owns 26,071 shares of the chip maker’s stock valued at $1,464,000 after buying an additional 186 shares during the period. Woodard & Co. Asset Management Group Inc. ADV increased its stake in Intel by 1.8% during the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,977 shares of the chip maker’s stock valued at $615,000 after buying an additional 191 shares during the period. Aries Wealth Management increased its stake in Intel by 0.6% during the 2nd quarter. Aries Wealth Management now owns 30,786 shares of the chip maker’s stock valued at $1,728,000 after buying an additional 195 shares during the period. Finally, Sustainable Insight Capital Management LLC grew its stake in shares of Intel by 3.6% in the 1st quarter. Sustainable Insight Capital Management LLC now owns 5,800 shares of the chip maker’s stock worth $371,000 after purchasing an additional 200 shares during the last quarter. 62.24% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ INTC opened at $53.50 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $217.05 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.50 and a beta of 0.60. The company has a 50 day moving average price of $53.86 and a two-hundred day moving average price of $57.47. Intel Co. has a 12-month low of $43.61 and a 12-month high of $68.49.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 22nd. The chip maker reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.22. The firm had revenue of $18.50 billion during the quarter, compared to analysts’ expectations of $17.80 billion. Intel had a net margin of 23.91% and a return on equity of 27.24%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, equities analysts anticipate that Intel Co. will post 4.79 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Sunday, November 7th will be paid a $0.3475 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, November 4th. Intel’s dividend payout ratio (DPR) is presently 26.23%.

INTC has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Intel in a research note on Tuesday, July 27th. Sanford C. Bernstein set a $43.00 price objective on shares of Intel in a research note on Friday, July 23rd. BMO Capital Markets lifted their price objective on shares of Intel from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Robert W. Baird reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Intel in a research note on Friday, July 16th. Finally, reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Intel in a research note on Tuesday, July 6th. Eleven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.65.

Intel Profile

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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