Intel Co. (NASDAQ:INTC) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 25.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,683 shares of the chip maker’s stock after purchasing an additional 38,749 shares during the period. NewEdge Advisors LLC’s holdings in Intel were worth $5,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Adirondack Trust Co. increased its stake in Intel by 0.5% in the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after purchasing an additional 278 shares in the last quarter. Abacus Wealth Partners LLC raised its stake in shares of Intel by 6.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after buying an additional 286 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of Intel by 1.8% in the 1st quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after buying an additional 299 shares in the last quarter. VERITY Wealth Advisors boosted its position in shares of Intel by 3.8% in the 1st quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock worth $373,000 after buying an additional 312 shares in the last quarter. Finally, Mechanics Bank Trust Department grew its stake in Intel by 0.8% in the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 3.3 %

NASDAQ:INTC opened at $22.69 on Wednesday. The stock has a market cap of $96.59 billion, a PE ratio of 23.64 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock’s 50-day moving average is $22.18 and its two-hundred day moving average is $29.77.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Wall Street Analyst Weigh In

INTC has been the topic of a number of analyst reports. Truist Financial decreased their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note 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 for the company in a report on Friday, August 2nd. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research note 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value 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 $765,576. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Intel 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.