Private Advisory Group LLC Purchases New Position in Intel Co. (NASDAQ:INTC)

Private Advisory Group LLC purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 342,932 shares of the chip maker’s stock, valued at approximately $8,045,000. Intel makes up 1.0% of Private Advisory Group LLC’s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors also recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter valued at approximately $25,000. Tributary Capital Management LLC acquired a new position in Intel in the 1st quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the 2nd quarter valued at $27,000. Spartan Fund Management Inc. acquired a new stake in Intel during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter worth $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Down 1.0 %

Shares of NASDAQ INTC opened at $23.22 on Friday. The stock has a market cap of $99.29 billion, a P/E ratio of 100.96 and a beta of 1.03. The business’s fifty day simple moving average is $21.19 and its 200-day simple moving average is $29.04. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. As a group, equities analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.15%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 217.40%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INTC shares. Cantor Fitzgerald lowered their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Truist Financial reduced their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Susquehanna lowered their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $31.96.

Insider Buying and Selling at Intel

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 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 in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

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.