Argyle Capital Management Inc. Acquires 9,150 Shares of Intel Co. (NASDAQ:INTC)

Argyle Capital Management Inc. grew its holdings in Intel Co. (NASDAQ:INTC) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,740 shares of the chip maker’s stock after buying an additional 9,150 shares during the quarter. Argyle Capital Management Inc.’s holdings in Intel were worth $2,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Fortitude Family Office LLC increased its position in Intel by 158.0% in the 3rd quarter. Fortitude Family Office LLC now owns 12,729 shares of the chip maker’s stock valued at $299,000 after acquiring an additional 7,796 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Intel by 111.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,238 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 28,642 shares during the last quarter. Traynor Capital Management Inc. increased its holdings in shares of Intel by 49.9% in the third quarter. Traynor Capital Management Inc. now owns 11,766 shares of the chip maker’s stock valued at $276,000 after purchasing an additional 3,917 shares in the last quarter. abrdn plc raised its position in Intel by 16.2% in the 3rd quarter. abrdn plc now owns 6,955,437 shares of the chip maker’s stock worth $163,279,000 after purchasing an additional 970,626 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Intel by 14.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 24,022 shares of the chip maker’s stock worth $537,000 after buying an additional 2,962 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Down 0.1 %

Shares of INTC traded down $0.02 during midday trading on Tuesday, hitting $22.90. The stock had a trading volume of 12,469,562 shares, compared to its average volume of 58,288,758. The firm has a market cap of $97.49 billion, a price-to-earnings ratio of 23.95 and a beta of 1.03. The company has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $27.28. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last released its 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). The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.18%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analysts Set New Price Targets

Several research firms have recently commented on INTC. Roth Mkm lowered their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Barclays lowered their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush dropped their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.80.

About Intel

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.