FLC Capital Advisors Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

FLC Capital Advisors reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,222 shares of the chip maker’s stock after selling 2,310 shares during the quarter. FLC Capital Advisors’ holdings in Intel were worth $404,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Horizon Wealth Management LLC grew its stake in Intel by 50.2% during the third quarter. Horizon Wealth Management LLC now owns 9,891 shares of the chip maker’s stock worth $232,000 after buying an additional 3,305 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Intel by 20.1% in the third quarter. Cornerstone Wealth Management LLC now owns 49,897 shares of the chip maker’s stock valued at $1,171,000 after purchasing an additional 8,336 shares during the period. Rheos Capital Works Inc. boosted its stake in shares of Intel by 13.8% in the third quarter. Rheos Capital Works Inc. now owns 247,000 shares of the chip maker’s stock valued at $5,795,000 after purchasing an additional 30,000 shares during the period. Twelve Points Wealth Management LLC boosted its stake in shares of Intel by 45.6% in the third quarter. Twelve Points Wealth Management LLC now owns 25,302 shares of the chip maker’s stock valued at $594,000 after purchasing an additional 7,920 shares during the period. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Intel by 105.2% in the third quarter. Wolff Wiese Magana LLC now owns 4,251 shares of the chip maker’s stock valued at $100,000 after purchasing an additional 2,179 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Price Performance

INTC opened at $22.31 on Thursday. The company has a fifty day moving average price of $21.30 and a two-hundred day moving average price of $28.33. 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 firm has a market capitalization of $94.97 billion, a PE ratio of 23.24 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTC has been the topic of several recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Monday, September 23rd. Roth Mkm cut their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial cut their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $31.96.

Intel Company 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.