Bogart Wealth LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

Bogart Wealth LLC decreased its holdings in Intel Co. (NASDAQ:INTC) by 15.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,809 shares of the chip maker’s stock after selling 1,252 shares during the quarter. Bogart Wealth LLC’s holdings in Intel were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter worth $25,000. Tributary Capital Management LLC bought a new stake in Intel during the first quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the second quarter valued at about $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the second quarter worth about $32,000. 64.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently issued reports on INTC. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Cantor Fitzgerald cut their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wedbush lowered their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.92.

Intel Stock Up 1.6 %

Shares of NASDAQ INTC opened at $22.34 on Friday. The stock has a 50 day moving average price of $21.55 and a 200 day moving average price of $27.67. The firm has a market capitalization of $95.10 billion, a price-to-earnings ratio of 23.27 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS 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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

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.