Lake Street Advisors Group LLC Has $307,000 Holdings in Intel Co. (NASDAQ:INTC)

Lake Street Advisors Group LLC decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 51.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,066 shares of the chip maker’s stock after selling 13,736 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Intel were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of INTC. Capital International Investors grew its holdings 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 period. Van ECK Associates Corp grew its holdings in shares of Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP bought a new position in Intel in the 2nd quarter valued at about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of several analyst reports. Truist Financial cut their target price on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Northland Securities dropped their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $31.15.

Intel Trading Up 1.5 %

Shares of Intel stock opened at $22.68 on Friday. The company’s 50-day moving average price is $21.62 and its 200-day moving average price is $27.53. The company has a market cap of $96.98 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last released its quarterly 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 firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities analysts expect 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. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 217.40%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by company insiders.

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.