Continental Investors Services Inc. Purchases Shares of 7,744 Intel Co. (NASDAQ:INTC)

Posted by Defense World Staff on Mar 19th, 2023

Continental Investors Services Inc. purchased a new stake in Intel Co. (NASDAQ:INTC – Get Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,744 shares of the chip maker’s stock, valued at approximately $264,000.

A number of other hedge funds also recently bought and sold shares of the stock. WealthPlan Investment Management LLC acquired a new stake in Intel in the 3rd quarter valued at about $3,060,000. Obermeyer Wood Investment Counsel Lllp raised its position in Intel by 10.6% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 17,081 shares of the chip maker’s stock valued at $440,000 after purchasing an additional 1,635 shares in the last quarter. Charter Oak Capital Management LLC raised its position in Intel by 3.7% in the 3rd quarter. Charter Oak Capital Management LLC now owns 26,681 shares of the chip maker’s stock valued at $688,000 after purchasing an additional 950 shares in the last quarter. Centaurus Financial Inc. raised its position in Intel by 10.0% in the 3rd quarter. Centaurus Financial Inc. now owns 28,184 shares of the chip maker’s stock valued at $726,000 after purchasing an additional 2,553 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in Intel by 9.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 77,196 shares of the chip maker’s stock valued at $1,989,000 after purchasing an additional 6,781 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Intel Stock Down 1.2 %

INTC opened at $29.81 on Friday. The business has a 50 day simple moving average of $28.09 and a 200-day simple moving average of $28.11. The stock has a market capitalization of $123.32 billion, a P/E ratio of 15.21, a P/E/G ratio of 9.08 and a beta of 0.81. Intel Co. has a 12 month low of $24.59 and a 12 month high of $52.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.57 and a quick ratio of 1.16.

Intel (NASDAQ:INTC – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). The firm had revenue of $14.04 billion for the quarter, compared to analyst estimates of $14.49 billion. Intel had a return on equity of 7.45% and a net margin of 12.71%. The business’s revenue for the quarter was down 31.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that Intel Co. will post 0.55 earnings per share for the current fiscal year.

Intel Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a yield of 1.68%. Intel’s dividend payout ratio is presently 74.49%.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of recent analyst reports. Credit Suisse Group set a $25.00 price objective on Intel in a report on Thursday, February 23rd. JPMorgan Chase & Co. set a $28.00 price objective on Intel in a report on Wednesday, February 22nd. The Goldman Sachs Group set a $24.00 price objective on Intel in a report on Friday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on Intel from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, January 27th. Finally, Raymond James assumed coverage on Intel in a research note on Wednesday, March 1st. They set an “outperform” rating and a $30.00 price target on the stock. Eight investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $29.38.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 9,000 shares of Intel stock in a transaction that occurred on Tuesday, January 31st. The stock was purchased at an average cost of $27.83 per share, with a total value of $250,470.00. Following the completion of the acquisition, the chief executive officer now owns 9,000 shares in the company, valued at approximately $250,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 9,000 shares of the company’s stock in a transaction on Tuesday, January 31st. The stock was bought at an average price of $27.83 per share, with a total value of $250,470.00. Following the completion of the transaction, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $250,470. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Zinsner purchased 1,800 shares of the company’s stock in a transaction on Monday, January 30th. The shares were bought at an average cost of $27.89 per share, with a total value of $50,202.00. Following the transaction, the chief financial officer now directly owns 17,450 shares of the company’s stock, valued at approximately $486,680.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 20,500 shares of company stock valued at $549,768. 0.02% of the stock is owned by insiders.

Intel Company Profile

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.