Sovereign Financial Group Inc. Has $333,000 Holdings in Intel Co. (NASDAQ:INTC)

Sovereign Financial Group Inc. increased its stake in Intel Co. (NASDAQ:INTC) by 19.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,196 shares of the chip maker’s stock after purchasing an additional 2,300 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Intel were worth $333,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in INTC. Tributary Capital Management LLC acquired a new position in Intel in the first quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Intel in the 1st quarter worth approximately $36,000. America First Investment Advisors LLC bought a new position in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the 2nd quarter valued at $27,000. Finally, Richardson Financial Services Inc. bought a new stake in Intel in the fourth quarter valued at $46,000. Institutional investors own 64.53% of the company’s stock.

Intel Trading Up 0.6 %

NASDAQ INTC opened at $23.46 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $21.34 and its two-hundred day simple moving average is $29.08. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market capitalization of $99.87 billion, a price-to-earnings ratio of 24.44 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. Research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased 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 owns 37,975 shares of the company’s stock, 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 link. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent analyst reports. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. UBS Group reduced their price objective on Intel from $37.00 to $32.00 and set a “neutral” 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 note 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 issued a buy rating to the company’s stock. According to MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $31.96.

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.