SYSTM Wealth Solutions LLC Acquires 1,504 Shares of Intel Co. (NASDAQ:INTC)

SYSTM Wealth Solutions LLC lifted its holdings in Intel Co. (NASDAQ:INTC) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,029 shares of the chip maker’s stock after purchasing an additional 1,504 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Intel were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Cranbrook Wealth Management LLC increased its stake in Intel by 184.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 9,152 shares of the chip maker’s stock valued at $283,000 after buying an additional 5,930 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Intel by 17.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 166,626 shares of the chip maker’s stock valued at $5,160,000 after acquiring an additional 24,596 shares in the last quarter. Frisch Financial Group Inc. increased its position in shares of Intel by 138.0% in the second quarter. Frisch Financial Group Inc. now owns 30,834 shares of the chip maker’s stock valued at $955,000 after acquiring an additional 17,878 shares during the last quarter. Virtu Financial LLC bought a new stake in Intel during the second quarter worth about $5,206,000. Finally, Edgestream Partners L.P. boosted its position in Intel by 74.1% during the second quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock valued at $373,000 after purchasing an additional 5,124 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INTC. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Wedbush dropped their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald decreased their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $32.04.

Intel Price Performance

INTC stock opened at $20.77 on Thursday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market cap of $88.42 billion, a price-to-earnings ratio of 21.64 and a beta of 1.03. The company has a 50 day simple moving average of $24.17 and a 200 day simple moving average of $31.22.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm 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 firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Research analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 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.