Intel Co. (NASDAQ:INTC) Stake Lifted by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc increased its position in shares of Intel Co. (NASDAQ:INTC) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,323 shares of the chip maker’s stock after purchasing an additional 2,636 shares during the period. Northeast Financial Consultants Inc’s holdings in Intel were worth $2,519,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new stake in shares of Intel in the second quarter valued at $25,000. Tributary Capital Management LLC bought a new stake in Intel in the first quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel in the 2nd quarter worth approximately $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of INTC stock opened at $23.91 on Friday. The firm has a market cap of $101.78 billion, a P/E ratio of 24.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The stock’s 50-day moving average is $22.58 and its two-hundred day moving average is $30.14.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of a number of research reports. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Morgan Stanley reduced their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Bank of America cut Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $32.04.

Intel Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.