Oppenheimer Asset Management Inc. Buys 57,081 Shares of Intel Co. (NASDAQ:INTC)

Oppenheimer Asset Management Inc. lifted its position in Intel Co. (NASDAQ:INTC) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 488,031 shares of the chip maker’s stock after purchasing an additional 57,081 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Intel were worth $15,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INTC. America First Investment Advisors LLC bought a new position in shares of Intel in the second quarter valued at about $25,000. Frazier Financial Advisors LLC acquired a new position in shares of Intel during the fourth quarter worth approximately $27,000. Burkett Financial Services LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new stake in shares of Intel in the first quarter valued at approximately $27,000. Finally, Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 1.5 %

NASDAQ INTC opened at $19.66 on Friday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock’s 50 day moving average price is $24.98 and its two-hundred day moving average price is $31.68. The stock has a market capitalization of $84.07 billion, a price-to-earnings ratio of 20.48 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal 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 paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.54%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought 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 directly owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTC. Roth Mkm lowered their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Finally, Barclays lowered their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Six 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.04.

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.