Cranbrook Wealth Management LLC Grows Stake in Intel Co. (NASDAQ:INTC)

Cranbrook Wealth Management LLC increased its position in Intel Co. (NASDAQ:INTC) by 184.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,152 shares of the chip maker’s stock after purchasing an additional 5,930 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Intel were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in shares of Intel during the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC acquired a new stake in Intel during the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC purchased a new stake in Intel during the 1st quarter worth approximately $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Intel in the 1st quarter valued at approximately $36,000. Finally, America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter valued at approximately $25,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

NASDAQ INTC opened at $20.91 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a market capitalization of $89.41 billion, a price-to-earnings ratio of 21.78 and a beta of 1.03. The company has a 50 day simple moving average of $24.71 and a 200-day simple moving average of $31.45. 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 data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. Equities research analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.39%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTC. Susquehanna dropped their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Barclays lowered their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Northland Securities reduced their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.04.

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.