International Assets Investment Management LLC Buys 2,842,584 Shares of Intel Co. (NASDAQ:INTC)

International Assets Investment Management LLC lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 3,505.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,923,684 shares of the chip maker’s stock after acquiring an additional 2,842,584 shares during the period. International Assets Investment Management LLC’s holdings in Intel were worth $68,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the 2nd quarter worth approximately $2,178,000. Fortis Group Advisors LLC raised its position in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC bought a new stake in Intel in the third quarter worth $8,045,000. Sanibel Captiva Trust Company Inc. boosted its position in Intel by 21.1% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after buying an additional 48,765 shares during the period. Finally, Brookstone Capital Management grew its stake in shares of Intel by 18.9% during the third quarter. Brookstone Capital Management now owns 52,075 shares of the chip maker’s stock valued at $1,222,000 after buying an additional 8,282 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of analyst reports. Roth Mkm dropped their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. 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 note on Friday, August 2nd. Finally, UBS Group lowered their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $31.15.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’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 transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of Intel stock opened at $22.68 on Friday. The stock has a market cap of $96.98 billion, a price-to-earnings ratio of 98.61 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 1 year low of $18.51 and a 1 year high of $51.28. The firm’s 50-day moving average is $21.62 and its 200 day moving average is $27.53.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. Sell-side analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. 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 dividend payout ratio is currently 217.40%.

Intel Company 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.