Lake Street Advisors Group LLC Sells 13,736 Shares of Intel Co. (NASDAQ:INTC)

Lake Street Advisors Group LLC lessened its position in Intel Co. (NASDAQ:INTC) by 51.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,066 shares of the chip maker’s stock after selling 13,736 shares during the period. Lake Street Advisors Group LLC’s holdings in Intel were worth $307,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors raised its stake in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA lifted its holdings in Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the period. Finally, Legal & General Group Plc boosted its position in Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTC has been the subject of several research analyst reports. Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Wedbush reduced their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Northland Securities lowered their price objective on Intel from $68.00 to $42.00 and set an “outperform” 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.15.

Intel Price Performance

Shares of INTC opened at $22.68 on Friday. The business has a 50-day simple moving average of $21.62 and a two-hundred day simple moving average of $27.53. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The stock has a market cap of $96.98 billion, a PE ratio of 98.61 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the business earned ($0.05) EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Analysts anticipate 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. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. Intel’s payout ratio is 217.40%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, 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 legal filing with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by corporate insiders.

About Intel

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.