Intel Co. (NASDAQ:INTC) Shares Acquired by ProVise Management Group LLC

ProVise Management Group LLC lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 30.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,883 shares of the chip maker’s stock after buying an additional 1,612 shares during the quarter. ProVise Management Group LLC’s holdings in Intel were worth $213,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new position in shares of Intel during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC acquired a new position in Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in Intel in the 1st quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Intel in the 1st quarter valued at $36,000. Finally, America First Investment Advisors LLC acquired a new position in Intel in the 2nd quarter valued at $25,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

INTC stock opened at $21.84 on Friday. 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 firm has a market capitalization of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The business’s 50-day moving average is $23.67 and its two-hundred day moving average is $30.98. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 dividend payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Susquehanna cut their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Truist Financial cut their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.04.

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.