Etesian Wealth Advisors Inc. Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Etesian Wealth Advisors Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 47.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,025 shares of the chip maker’s stock after selling 20,463 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Intel were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mechanics Bank Trust Department increased its stake in shares of Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after acquiring an additional 320 shares during the period. Guardian Capital Advisors LP increased its position in shares of Intel by 2.1% during the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after purchasing an additional 328 shares during the period. Valley National Advisers Inc. raised its stake in shares of Intel by 5.5% in the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock worth $278,000 after buying an additional 330 shares in the last quarter. Richard C. Young & CO. LTD. lifted its holdings in shares of Intel by 0.9% in the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after buying an additional 338 shares during the period. Finally, Key Financial Inc boosted its stake in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after buying an additional 340 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Northland Securities cut their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Truist Financial cut their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $31.92.

Intel Stock Up 1.5 %

Shares of Intel stock traded up $0.33 during midday trading on Friday, reaching $22.77. 39,971,695 shares of the company’s stock traded hands, compared to its average volume of 58,832,660. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company’s 50 day simple moving average is $21.40 and its 200 day simple moving average is $28.14. The company has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Equities analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.20%. Intel’s payout ratio is 52.08%.

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.