Itau Unibanco Holding S.A. Invests $4.49 Million in Intel Co. (NASDAQ:INTC)

Itau Unibanco Holding S.A. acquired a new stake in Intel Co. (NASDAQ:INTC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 144,882 shares of the chip maker’s stock, valued at approximately $4,487,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. 1832 Asset Management L.P. lifted its stake in Intel by 23.7% in the second quarter. 1832 Asset Management L.P. now owns 3,977 shares of the chip maker’s stock valued at $123,000 after buying an additional 762 shares during the period. Greenline Partners LLC increased its stake in shares of Intel by 10.2% in the 2nd quarter. Greenline Partners LLC now owns 73,379 shares of the chip maker’s stock valued at $2,263,000 after acquiring an additional 6,776 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Intel by 1,761.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 22,075 shares of the chip maker’s stock valued at $684,000 after acquiring an additional 20,889 shares during the period. Holderness Investments Co. boosted its stake in Intel by 1.3% during the 2nd quarter. Holderness Investments Co. now owns 79,804 shares of the chip maker’s stock worth $2,472,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in Intel by 6.9% during the 2nd quarter. Profund Advisors LLC now owns 695,535 shares of the chip maker’s stock worth $21,541,000 after acquiring an additional 44,701 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was acquired 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 owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Northland Securities decreased their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Susquehanna lowered their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

NASDAQ:INTC opened at $21.84 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market cap of $92.97 billion, a P/E ratio of 22.75 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. The stock’s 50-day simple moving average is $23.67 and its 200 day simple moving average is $30.90.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, sell-side analysts forecast 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 given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 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.