Bleakley Financial Group LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Bleakley Financial Group LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 3.4% in the 3rd quarter, Holdings Channel reports. The fund owned 100,900 shares of the chip maker’s stock after selling 3,499 shares during the period. Bleakley Financial Group LLC’s holdings in Intel were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new position in shares of Intel in the 2nd quarter valued at $2,178,000. Private Advisory Group LLC purchased a new position in Intel in the third quarter valued at $8,045,000. Brookstone Capital Management raised its position in shares of Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after acquiring an additional 27,274 shares during the period. Sanibel Captiva Trust Company Inc. boosted its stake in shares of Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after acquiring an additional 48,765 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Intel by 7.2% during the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock valued at $20,392,000 after acquiring an additional 58,021 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $765,576. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Up 1.5 %

Shares of NASDAQ INTC opened at $22.77 on Friday. The company has a market capitalization of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03. 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 company has a 50 day simple moving average of $21.40 and a 200-day simple moving average of $28.14. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 analyst estimates of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. Intel’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid 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 dividend payout ratio (DPR) is presently 52.08%.

Analysts Set New Price Targets

INTC has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen upgraded Intel to a “hold” rating in a research report on Monday, September 16th. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Morgan Stanley reduced their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $31.92.

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.