B. Riley Wealth Advisors Inc. lowered its stake in Intel Co. (NASDAQ:INTC – Free Report) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,122 shares of the chip maker’s stock after selling 7,376 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Intel were worth $3,658,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in INTC. Tributary Capital Management LLC acquired a new position in Intel in the first quarter valued at about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Intel during the 1st quarter worth approximately $36,000. America First Investment Advisors LLC acquired a new position in Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel in the second quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. acquired a new stake in Intel in the fourth quarter worth $46,000. Institutional investors and hedge funds own 64.53% of the company’s stock.
Insider Buying and Selling
In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.
Intel Trading Down 1.9 %
Intel (NASDAQ:INTC – Get Free Report) last issued 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 return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.
Intel Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on INTC shares. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Six 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.04.
View Our Latest Stock Analysis on Intel
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.
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