ProShare Advisors LLC Has $160.84 Million Stock Position in Intel Co. (NASDAQ:INTC)

ProShare Advisors LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,193,471 shares of the chip maker’s stock after selling 310,106 shares during the period. ProShare Advisors LLC owned about 0.12% of Intel worth $160,842,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Burkett Financial Services LLC bought a new stake in shares of Intel during the 4th quarter worth $27,000. Tributary Capital Management LLC acquired a new position in Intel during the first quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Intel in the first quarter worth about $36,000. America First Investment Advisors LLC acquired a new stake in shares of Intel in the 2nd quarter valued at approximately $25,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Intel in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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 purchased at an average price 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 in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

Intel Price Performance

Intel stock opened at $21.84 on Friday. The stock has a market capitalization of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. 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 $23.67 and its two-hundred day moving average price is $30.90.

Intel (NASDAQ:INTC) last issued 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Intel Co. will post -0.47 earnings per share for the current 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 given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INTC shares. The Goldman Sachs Group dropped their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Susquehanna reduced their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Six 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 company’s stock. Based on data from MarketBeat, the company has an average 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.