Hoertkorn Richard Charles Sells 1,841 Shares of Intel Co. (NASDAQ:INTC)

Hoertkorn Richard Charles trimmed its stake in Intel Co. (NASDAQ:INTC) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 140,752 shares of the chip maker’s stock after selling 1,841 shares during the quarter. Intel comprises approximately 1.4% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 22nd biggest position. Hoertkorn Richard Charles’ holdings in Intel were worth $3,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of INTC. Brookstone Capital Management grew its stake in Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Intel by 15.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 52,636 shares of the chip maker’s stock worth $2,325,000 after acquiring an additional 7,006 shares during the period. Procyon Advisors LLC boosted its stake in Intel by 2.8% in the 1st quarter. Procyon Advisors LLC now owns 61,221 shares of the chip maker’s stock valued at $2,704,000 after purchasing an additional 1,651 shares during the period. Thrive Wealth Management LLC boosted its stake in Intel by 8.2% in the 1st quarter. Thrive Wealth Management LLC now owns 12,147 shares of the chip maker’s stock valued at $537,000 after purchasing an additional 921 shares during the period. Finally, 180 Wealth Advisors LLC boosted its stake in Intel by 3.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 39,613 shares of the chip maker’s stock valued at $1,750,000 after purchasing an additional 1,343 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired 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 owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Intel Trading Down 1.9 %

NASDAQ INTC opened at $21.98 on Thursday. The business’s 50-day moving average price is $21.55 and its two-hundred day moving average price is $27.67. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The firm has a market capitalization of $93.57 billion, a PE ratio of 22.90 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INTC shares. Wedbush reduced their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Truist Financial reduced their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reduced their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.