Fragasso Group Inc. Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Fragasso Group Inc. raised its stake in shares of Intel Co. (NASDAQ:INTC) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,118 shares of the chip maker’s stock after acquiring an additional 637 shares during the period. Fragasso Group Inc.’s holdings in Intel were worth $338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Psagot Value Holdings Ltd. Israel raised its stake in shares of Intel by 43.7% during the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock worth $142,000 after buying an additional 1,356 shares in the last quarter. Avaii Wealth Management LLC purchased a new position in Intel in the 1st quarter valued at approximately $354,000. ProShare Advisors LLC increased its stake in Intel by 11.3% in the 1st quarter. ProShare Advisors LLC now owns 4,754,164 shares of the chip maker’s stock valued at $155,319,000 after purchasing an additional 483,917 shares in the last quarter. Spire Wealth Management increased its stake in Intel by 27.7% in the 1st quarter. Spire Wealth Management now owns 40,570 shares of the chip maker’s stock valued at $1,325,000 after purchasing an additional 8,790 shares in the last quarter. Finally, Nishkama Capital LLC purchased a new position in Intel in the 1st quarter valued at approximately $12,023,000. 60.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 3,250 shares of the stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $35.87 per share, with a total value of $116,577.50. Following the completion of the acquisition, the chief executive officer now owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $34.63 per share, with a total value of $133,325.50. Following the completion of the acquisition, the chief executive officer now owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,250 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $35.87 per share, with a total value of $116,577.50. Following the completion of the acquisition, the chief executive officer now directly owns 139,715 shares in the company, valued at $5,011,577.05. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. 22nd Century Group reaffirmed a “reiterates” rating on shares of Intel in a research note on Wednesday, May 31st. JPMorgan Chase & Co. increased their target price on Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, July 28th. Barclays increased their target price on Intel from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Stifel Nicolaus increased their target price on Intel from $28.00 to $32.00 and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Wolfe Research raised their price objective on Intel from $27.00 to $31.00 and gave the stock an “underperform” rating in a report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.55.

Intel Stock Down 2.0 %

Shares of NASDAQ INTC opened at $37.88 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.60. The firm has a market cap of $158.64 billion, a price-to-earnings ratio of -172.17 and a beta of 0.89. Intel Co. has a 1 year low of $24.59 and a 1 year high of $40.07. The stock’s 50-day simple moving average is $34.88 and its 200-day simple moving average is $32.09.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. The firm had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.03 billion. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. As a group, equities analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, August 4th. Intel’s dividend payout ratio is currently -227.26%.

About Intel

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.