Onyx Bridge Wealth Group LLC Grows Position in Intel Co. (NASDAQ:INTC)

Onyx Bridge Wealth Group LLC boosted its position in shares of Intel Co. (NASDAQ:INTC) by 48.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,981 shares of the chip maker’s stock after purchasing an additional 9,121 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Intel were worth $656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in Intel by 16.0% during the 1st 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 raised its position in Intel by 60.5% during the 2nd 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 in the last quarter. Davis Selected Advisers grew its holdings in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Caxton Associates LP bought a new position in shares of Intel during the second quarter valued at approximately $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intel by 2,681.1% during 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 during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 0.6 %

Shares of INTC stock opened at $22.44 on Friday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The stock has a market cap of $95.53 billion, a price-to-earnings ratio of 23.38 and a beta of 1.03. The company’s 50-day moving average price is $21.34 and its 200-day moving average price is $28.29. 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 released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for 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%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, equities analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 2.23%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Wall Street Analyst Weigh In

INTC has been the topic of a number of analyst reports. Barclays cut their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Truist Financial dropped their target price on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.92.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.