Bleakley Financial Group LLC Reduces Stake in Intel Co. (NASDAQ:INTC)

Bleakley Financial Group LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,900 shares of the chip maker’s stock after selling 3,499 shares during the quarter. Bleakley Financial Group LLC’s holdings in Intel were worth $2,367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Vanguard Group Inc. lifted its holdings in shares of Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the last quarter. Capital International Investors lifted its stake in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.77 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market cap of $96.93 billion, a PE ratio of 23.72 and a beta of 1.03. The business has a 50-day simple moving average of $21.40 and a two-hundred day simple moving average of $28.14.

Intel (NASDAQ:INTC) last released its earnings results 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 company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Susquehanna decreased their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $31.92.

About Intel

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.