Intel Co. (NASDAQ:INTC) Shares Purchased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 162.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,754 shares of the chip maker’s stock after acquiring an additional 11,613 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Intel were worth $581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of INTC. William B. Walkup & Associates Inc. acquired a new position in Intel in the second quarter valued at $2,178,000. Brookstone Capital Management increased its position in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares in the last quarter. NBC Securities Inc. increased its position in Intel by 2.6% during the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock worth $736,000 after purchasing an additional 418 shares in the last quarter. Red Mountain Financial LLC acquired a new position in Intel during the fourth quarter valued at approximately $859,000. Finally, Cetera Investment Advisers lifted its position in Intel by 262.9% during the first quarter. Cetera Investment Advisers now owns 787,130 shares of the chip maker’s stock valued at $34,768,000 after buying an additional 570,249 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research reports. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley reduced their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna reduced their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Price Performance

Intel stock opened at $23.46 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The stock has a market capitalization of $99.87 billion, a P/E ratio of 24.44 and a beta of 1.03. The stock has a fifty day moving average of $22.38 and a 200-day moving average of $29.91.

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

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. 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 (DPR) is 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.