Cullinan Associates Inc. Increases Stake in Intel Co. (NASDAQ:INTC)

Cullinan Associates Inc. raised its stake in Intel Co. (NASDAQ:INTC) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,989 shares of the chip maker’s stock after acquiring an additional 600 shares during the quarter. Cullinan Associates Inc.’s holdings in Intel were worth $2,022,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. William B. Walkup & Associates Inc. purchased a new stake in Intel during the second quarter worth $2,178,000. Fortis Group Advisors LLC raised its position in shares of Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after acquiring an additional 157,991 shares during the period. Private Advisory Group LLC purchased a new stake in shares of Intel during the 3rd quarter worth about $8,045,000. Brookstone Capital Management grew its position in shares of Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after acquiring an additional 27,274 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its stake in shares of Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 2.9 %

Shares of INTC stock traded up $0.64 during trading on Friday, hitting $22.98. 7,076,552 shares of the stock traded hands, compared to its average volume of 58,297,289. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The firm has a market capitalization of $97.83 billion, a P/E ratio of 23.27 and a beta of 1.03. The firm’s fifty day moving average price is $21.55 and its 200-day moving average price is $27.67. 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 (NASDAQ:INTC) last posted its earnings results 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 business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The business 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Analyst Ratings Changes

A number of brokerages have issued reports on INTC. Cantor Fitzgerald lowered their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Roth Mkm cut their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.92.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

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.