Great Lakes Advisors LLC lowered its position in Intel Co. (NASDAQ:INTC – Free Report) by 16.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 628,844 shares of the chip maker’s stock after selling 122,041 shares during the period. Great Lakes Advisors LLC’s holdings in Intel were worth $21,029,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of INTC. Glass Jacobson Investment Advisors llc purchased a new position in shares of Intel during the 2nd quarter worth $25,000. Your Advocates Ltd. LLP raised its holdings in shares of Intel by 396.4% during the 2nd quarter. Your Advocates Ltd. LLP now owns 819 shares of the chip maker’s stock worth $27,000 after acquiring an additional 654 shares during the period. Moser Wealth Advisors LLC purchased a new position in shares of Intel during the 2nd quarter worth $31,000. Steward Financial Group LLC purchased a new position in shares of Intel during the 2nd quarter worth $31,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Intel during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.
Intel Price Performance
INTC stock opened at $43.81 on Friday. The business has a 50 day moving average price of $36.71 and a 200 day moving average price of $34.31. The stock has a market cap of $184.70 billion, a price-to-earnings ratio of -109.53, a PEG ratio of 15.13 and a beta of 0.88. Intel Co. has a fifty-two week low of $24.73 and a fifty-two week high of $43.81. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC – Get Free Report) last posted its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.20. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $13.57 billion. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. Equities research analysts anticipate that Intel Co. will post 0.19 earnings per share for the current fiscal year.
Intel Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, November 6th. Intel’s dividend payout ratio is currently -125.00%.
Insider Buying and Selling at Intel
In other news, CEO Patrick P. Gelsinger acquired 6,775 shares of Intel stock in a transaction on Wednesday, November 1st. The stock was bought at an average price of $36.80 per share, for a total transaction of $249,320.00. Following the completion of the purchase, the chief executive officer now owns 25,475 shares in the company, valued at $937,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
INTC has been the topic of several research analyst reports. Truist Financial boosted their price objective on shares of Intel from $32.00 to $37.00 and gave the company a “hold” rating in a report on Friday, July 28th. Morgan Stanley boosted their price objective on shares of Intel from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Robert W. Baird boosted their price objective on shares of Intel from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 28th. BMO Capital Markets boosted their price objective on shares of Intel from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Intel in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $35.53.
View Our Latest Stock Report on Intel
Intel Company Profile
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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