Pinnacle Wealth Management Advisory Group LLC Sells 1,429 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Pinnacle Wealth Management Advisory Group LLC reduced its stake in Texas Instruments by 20.3%, owning 5,622 shares valued at approximately $1,010,000.
• Texas Instruments reported $1.41 earnings per share for the last quarter, exceeding estimates, with a revenue of $4.45 billion, a year-over-year increase of 16.4%.
• The company recently declared a quarterly dividend of $1.36, leading to an annualized dividend yield of 2.84%, with a high dividend payout ratio of 99.63%.

Pinnacle Wealth Management Advisory Group LLC cut its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,622 shares of the semiconductor company's stock after selling 1,429 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC's holdings in Texas Instruments were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Kinsale Capital Group Inc. increased its position in Texas Instruments by 16.0% during the 1st quarter. Kinsale Capital Group Inc. now owns 46,174 shares of the semiconductor company's stock worth $8,297,000 after purchasing an additional 6,355 shares in the last quarter. Norden Group LLC increased its holdings in shares of Texas Instruments by 8.1% during the first quarter. Norden Group LLC now owns 32,519 shares of the semiconductor company's stock valued at $5,844,000 after purchasing an additional 2,431 shares during the period. Werba Rubin Papier Wealth Management increased its holdings in shares of Texas Instruments by 8.3% during the first quarter. Werba Rubin Papier Wealth Management now owns 1,415 shares of the semiconductor company's stock valued at $254,000 after purchasing an additional 109 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Texas Instruments by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 40,989 shares of the semiconductor company's stock valued at $7,366,000 after purchasing an additional 179 shares during the period. Finally, University of Texas Texas AM Investment Management Co. increased its holdings in shares of Texas Instruments by 27.8% during the first quarter. University of Texas Texas AM Investment Management Co. now owns 40,898 shares of the semiconductor company's stock valued at $7,349,000 after purchasing an additional 8,898 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Texas Instruments Price Performance

NASDAQ:TXN traded down $0.57 during trading hours on Friday, reaching $180.49. The company had a trading volume of 3,144,161 shares, compared to its average volume of 7,383,012. The stock has a 50-day moving average of $200.47 and a two-hundred day moving average of $185.42. Texas Instruments Incorporated has a one year low of $139.95 and a one year high of $221.69. The firm has a market capitalization of $164.09 billion, a PE ratio of 33.01, a PEG ratio of 3.11 and a beta of 1.03. The company has a quick ratio of 3.88, a current ratio of 5.81 and a debt-to-equity ratio of 0.86.

Texas Instruments (NASDAQ:TXN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.09. The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. Texas Instruments had a return on equity of 30.10% and a net margin of 30.23%. The business's revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 earnings per share. Analysts forecast that Texas Instruments Incorporated will post 5.35 earnings per share for the current year.

Texas Instruments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Thursday, July 31st will be paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, July 31st. Texas Instruments's dividend payout ratio is 99.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on TXN. UBS Group set a $255.00 price target on Texas Instruments in a report on Tuesday, July 22nd. TD Securities reaffirmed a "hold" rating and set a $160.00 target price on shares of Texas Instruments in a report on Thursday, April 24th. Mizuho lowered their target price on Texas Instruments from $205.00 to $200.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on Texas Instruments from $215.00 to $195.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Finally, Barclays lowered Texas Instruments from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $180.00 to $125.00 in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $212.21.

Texas Instruments Profile

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.