Romano Brothers AND Company decreased its holdings in Intel Co. (NASDAQ:INTC – Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,004 shares of the chip maker’s stock after selling 5,498 shares during the quarter. Romano Brothers AND Company’s holdings in Intel were worth $2,408,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P increased its holdings in Intel by 173.6% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after purchasing an additional 342,649 shares during the last quarter. Axiom Financial Strategies LLC increased its holdings in shares of Intel by 21.6% in the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after acquiring an additional 1,056 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Intel in the first quarter worth about $142,000. Retirement Income Solutions Inc increased its holdings in shares of Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after acquiring an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Intel by 26.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after acquiring an additional 1,244,247 shares in the last quarter. Institutional investors own 60.84% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on INTC. Barclays increased their price objective on Intel from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Needham & Company LLC increased their price target on Intel from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. increased their price target on Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, July 28th. UBS Group increased their price target on Intel from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Finally, Raymond James raised their price objective on Intel from $35.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $33.55.
Intel Stock Down 2.4 %
Shares of NASDAQ:INTC traded down $0.91 during midday trading on Tuesday, reaching $37.08. The company’s stock had a trading volume of 19,824,620 shares, compared to its average volume of 43,007,016. Intel Co. has a fifty-two week low of $24.59 and a fifty-two week high of $40.07. The firm has a 50 day moving average price of $35.00 and a two-hundred day moving average price of $32.28. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.
Intel Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.35%. Intel’s payout ratio is presently -227.26%.
Insider Transactions at Intel
In other news, CEO Patrick P. Gelsinger acquired 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the purchase, the chief executive officer now owns 105,495 shares in the company, valued at $3,653,291.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Patrick P. Gelsinger purchased 3,850 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average price 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 in the company, valued at approximately $3,653,291.85. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $35.87 per share, for a total transaction of $116,577.50. Following the acquisition, the chief executive officer now owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.
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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