Sanders Morris Harris LLC Buys Shares of 15,695 Intel Co. (NASDAQ:INTC)

Sanders Morris Harris LLC bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,695 shares of the chip maker’s stock, valued at approximately $528,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its stake in Intel by 0.8% during the 1st quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock valued at $5,858,347,000 after buying an additional 1,447,881 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intel by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 82,728,971 shares of the chip maker’s stock worth $2,696,916,000 after purchasing an additional 512,209 shares in the last quarter. Morgan Stanley increased its stake in shares of Intel by 29.8% in the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after purchasing an additional 12,241,200 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Intel by 100,953.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after purchasing an additional 51,083,262 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Intel in the 4th quarter worth $1,092,939,000. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 2.0 %

NASDAQ INTC opened at $37.88 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $35.00 and a two-hundred day moving average of $32.23. The firm has a market capitalization of $158.64 billion, a price-to-earnings ratio of -172.17 and a beta of 0.89. Intel Co. has a 52 week low of $24.59 and a 52 week high of $40.07.

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

Intel Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their price objective on Intel from $32.00 to $35.00 in a research note on Thursday, June 22nd. Morgan Stanley reduced their price objective on Intel from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Tigress Financial dropped their target price on shares of Intel from $72.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 4th. Needham & Company LLC upped their target price on shares of Intel from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, StockNews.com started coverage on shares of Intel in a report on Thursday, August 17th. They issued a “hold” rating for the company. Six research 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 data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $33.55.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 3,250 shares of the stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $35.87 per share, with a total value of $116,577.50. Following the completion of the purchase, the chief executive officer now owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was purchased at an average cost of $34.63 per share, with a total value of $133,325.50. Following the completion of the purchase, the chief executive officer now owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 purchased at an average price 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 of the company’s stock, valued at $5,011,577.05. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

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.