Spire Wealth Management decreased its position in Intel Co. (NASDAQ:INTC – Free Report) by 4.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 38,848 shares of the chip maker’s stock after selling 1,722 shares during the period. Spire Wealth Management’s holdings in Intel were worth $1,299,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Intel by 98,521.3% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 178,121,843 shares of the chip maker’s stock valued at $5,956,394,000 after acquiring an additional 177,941,231 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Intel by 100,953.1% during 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 during the last quarter. Norges Bank purchased a new stake in shares of Intel during the fourth quarter worth about $1,092,939,000. Parnassus Investments LLC acquired a new position in shares of Intel in the second quarter valued at approximately $626,573,000. Finally, Clearbridge Investments LLC raised its position in shares of Intel by 4,407.3% in the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock valued at $814,727,000 after buying an additional 16,074,485 shares during the last quarter. Hedge funds and other institutional investors own 60.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on INTC. Susquehanna boosted their price target on Intel from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. JPMorgan Chase & Co. upped their price objective on shares of Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, July 28th. StockNews.com initiated coverage on shares of Intel in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Evercore ISI upped their price target on shares of Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Friday, July 28th. Finally, Wolfe Research increased their price target on shares of Intel from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.53.
Intel Stock Up 3.0 %
Shares of NASDAQ:INTC opened at $40.61 on Thursday. Intel Co. has a 12-month low of $24.73 and a 12-month high of $40.84. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. The firm has a market cap of $171.21 billion, a PE ratio of -101.52, a price-to-earnings-growth ratio of 14.24 and a beta of 0.88. The company has a fifty day simple moving average of $36.49 and a 200 day simple moving average of $34.15.
Intel (NASDAQ:INTC – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The chip maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $13.57 billion. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, equities research analysts anticipate that Intel Co. will post 0.19 EPS for the current fiscal year.
Intel Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a $0.125 dividend. The ex-dividend date is Monday, November 6th. This represents a $0.50 annualized dividend and a yield of 1.23%. Intel’s dividend payout ratio is presently -125.00%.
Insider Buying and Selling at Intel
In other Intel news, CEO Patrick P. Gelsinger purchased 6,775 shares of the stock in a transaction dated Wednesday, November 1st. The shares were bought at an average cost of $36.80 per share, with a total value of $249,320.00. Following the completion of the acquisition, the chief executive officer now owns 25,475 shares of the company’s stock, valued at $937,480. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by company insiders.
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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