Bruce G. Allen Investments LLC Sells 753 Shares of Intel Co. (NASDAQ:INTC)

Bruce G. Allen Investments LLC reduced its position in Intel Co. (NASDAQ:INTC) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,756 shares of the chip maker’s stock after selling 753 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Intel were worth $65,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at about $2,178,000. Brookstone Capital Management boosted its holdings in Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Czech National Bank grew its stake in shares of Intel by 7.2% in the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock valued at $20,392,000 after purchasing an additional 58,021 shares during the period. NBC Securities Inc. grew its stake in shares of Intel by 2.6% in the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after purchasing an additional 418 shares during the period. Finally, Red Mountain Financial LLC acquired a new position in shares of Intel in the 4th quarter worth approximately $859,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTC. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Truist Financial reduced their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Susquehanna reduced their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.96.

Intel Stock Up 0.6 %

Intel stock opened at $23.46 on Thursday. The firm has a market capitalization of $99.87 billion, a price-to-earnings ratio of 24.44 and a beta of 1.03. The company’s 50 day simple moving average is $21.34 and its 200 day simple moving average is $29.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

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

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued 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 of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by 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.