Ballew Advisors Inc Acquires New Position in Intel Co. (NASDAQ:INTC)

Ballew Advisors Inc bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,507 shares of the chip maker’s stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTC. Adirondack Trust Co. boosted its position in shares of Intel by 0.5% in the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after acquiring an additional 278 shares during the period. Abacus Wealth Partners LLC lifted its position in Intel by 6.7% during the first quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after purchasing an additional 286 shares during the period. First Affirmative Financial Network lifted its position in Intel by 1.8% during the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after purchasing an additional 299 shares during the period. VERITY Wealth Advisors lifted its position in Intel by 3.8% during the first quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock worth $373,000 after purchasing an additional 312 shares during the period. Finally, Mechanics Bank Trust Department lifted its position in Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after purchasing an additional 320 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on INTC shares. Morgan Stanley cut their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Northland Securities lowered their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna lowered their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note 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, the stock currently has a consensus rating of “Hold” and an average target price of $31.96.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost 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 of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Stock Performance

NASDAQ:INTC opened at $23.56 on Friday. The company has a market capitalization of $100.29 billion, a PE ratio of 24.54 and a beta of 1.03. The company has a 50 day simple moving average of $21.12 and a two-hundred day simple moving average of $28.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 1.78% and a net margin of 1.77%. Intel’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced 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 dividend yield of 2.12%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

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.