Intel Co. (NASDAQ:INTC) Shares Purchased by Fortis Group Advisors LLC

Fortis Group Advisors LLC increased its stake in shares of Intel Co. (NASDAQ:INTC) by 1,052.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,996 shares of the chip maker’s stock after buying an additional 157,991 shares during the quarter. Fortis Group Advisors LLC’s holdings in Intel were worth $4,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital International Investors lifted 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 valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its stake in shares of Intel by 60.5% in 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 purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers boosted its holdings in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Caxton Associates LP acquired a new position in Intel during the second quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after buying an additional 4,272,395 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased 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 owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of several research reports. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. HSBC cut Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Roth Mkm reduced their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.92.

Intel Stock Performance

NASDAQ INTC traded down $0.34 on Tuesday, hitting $22.50. The stock had a trading volume of 6,029,302 shares, compared to its average volume of 58,480,285. The company’s 50-day moving average is $21.47 and its two-hundred day moving average is $27.82. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a market cap of $95.78 billion, a price-to-earnings ratio of 23.79 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned ($0.05) EPS. On average, analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.22%. Intel’s payout ratio is currently 52.08%.

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.