Todays Report: The DORCHESTER WEALTH MANAGEMENT Co Continues to Hold Position in Intel Corp. (INTC)

The DORCHESTER WEALTH MANAGEMENT Co Continues to Hold Position in Intel Corp. (INTC)

DORCHESTER WEALTH MANAGEMENT Co maintained its position in shares of Intel Corp. (NASDAQ:INTC) during the second quarter, Holdings Channel reports. The firm owned 9,340 shares of the chip maker’s stock at the end of the second quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Intel Corp. were worth $306,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Kelman Lazarov Inc. purchased a new position in shares of Intel Corp. during the first quarter valued at about $621,000. GW&K Investment Management LLC raised its stake in shares of Intel Corp. by 5.6% in the first quarter. GW&K Investment Management LLC now owns 658,853 shares of the chip maker’s stock valued at $21,314,000 after buying an additional 34,822 shares during the last quarter. Narwhal Capital Management raised its stake in shares of Intel Corp. by 3.4% in the first quarter. Narwhal Capital Management now owns 132,588 shares of the chip maker’s stock valued at $4,289,000 after buying an additional 4,320 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Intel Corp. by 1.7% in the first quarter. Boston Advisors LLC now owns 855,380 shares of the chip maker’s stock valued at $27,672,000 after buying an additional 14,301 shares during the last quarter. Finally, Ronna Sue Cohen raised its stake in shares of Intel Corp. by 6.9% in the first quarter. Ronna Sue Cohen now owns 106,372 shares of the chip maker’s stock valued at $3,441,000 after buying an additional 6,858 shares during the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.

Intel Corp. (NASDAQ:INTC) traded up 1.30% on Friday, hitting $37.45. 19,123,944 shares of the stock traded hands. The company’s 50 day moving average price is $36.86 and its 200-day moving average price is $33.65. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36. The stock has a market cap of $177.18 billion, a price-to-earnings ratio of 18.16 and a beta of 1.09.

Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Intel Corp. will post $2.58 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.

Several research firms recently commented on INTC. Sanford C. Bernstein reiterated an “underperform” rating and issued a $26.00 price objective on shares of Intel Corp. in a research report on Monday, June 20th. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, June 21st. Vetr lowered shares of Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 target price on the stock. in a report on Wednesday, June 22nd. Argus reaffirmed a “buy” rating and set a $41.00 price objective on shares of Intel Corp. in a research note on Wednesday, June 29th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $35.00 price objective (up previously from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-two have given a buy rating to the company. Intel Corp. has a consensus rating of “Buy” and a consensus target price of $39.73.

In other news, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the sale, the vice president now directly owns 84,505 shares in the company, valued at approximately $2,912,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stacy J. Smith sold 29,497 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the sale, the chief financial officer now owns 263,772 shares in the company, valued at $9,092,220.84. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Intel Corp. Company Profile

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.

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