Naviter Wealth LLC Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Naviter Wealth LLC increased its stake in Intel Co. (NASDAQ:INTC) by 36.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,598 shares of the chip maker’s stock after purchasing an additional 14,758 shares during the quarter. Naviter Wealth LLC’s holdings in Intel were worth $1,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Affirmative Financial Network increased its stake in Intel by 1.8% in the 1st quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after acquiring an additional 299 shares during the last quarter. Mechanics Bank Trust Department raised its stake in Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after purchasing an additional 320 shares in the last quarter. Guardian Capital Advisors LP lifted its position in Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after purchasing an additional 328 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Intel by 5.5% in the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock worth $278,000 after buying an additional 330 shares in the last quarter. Finally, Richard C. Young & CO. LTD. increased its holdings in shares of Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after buying an additional 338 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $22.44 on Friday. The firm has a 50 day moving average of $21.34 and a 200 day moving average of $28.29. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $95.53 billion, a price-to-earnings ratio of 23.38 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. UBS Group lowered their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Truist Financial lowered their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.92.

Intel Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.