Intel Co. (NASDAQ:INTC) Shares Sold by Boyar Asset Management Inc.

Boyar Asset Management Inc. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,435 shares of the chip maker’s stock after selling 741 shares during the quarter. Intel makes up about 1.1% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Boyar Asset Management Inc.’s holdings in Intel were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors increased its position in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA lifted its stake in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Norges Bank acquired a new stake in shares of Intel in the 4th quarter worth about $2,424,202,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INTC shares. Northland Securities cut their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 target price on the stock. Cantor Fitzgerald decreased their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Truist Financial decreased 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. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $32.04.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ INTC opened at $18.89 on Friday. Intel Co. has a 52-week low of $18.64 and a 52-week high of $51.28. The company has a 50-day simple moving average of $26.17 and a 200 day simple moving average of $32.59. The company has a market capitalization of $80.41 billion, a PE ratio of 19.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts predict that Intel Co. will post -0.46 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

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.