Kathmere Capital Management LLC purchased a new stake in Intel Co. (NASDAQ:INTC – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,353 shares of the chip maker’s stock, valued at approximately $313,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frontier Wealth Management LLC increased its holdings in Intel by 0.5% during the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock valued at $2,181,000 after buying an additional 253 shares during the period. West Michigan Advisors LLC boosted its position in Intel by 5.4% during the first quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock valued at $255,000 after purchasing an additional 262 shares in the last quarter. Retirement Income Solutions Inc grew its stake in Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after purchasing an additional 307 shares during the last quarter. CFO4Life Group LLC lifted its position in Intel by 2.3% during the first quarter. CFO4Life Group LLC now owns 15,770 shares of the chip maker’s stock valued at $515,000 after acquiring an additional 348 shares during the last quarter. Finally, Legacy Private Trust Co. lifted its holdings in shares of Intel by 2.7% during the 2nd quarter. Legacy Private Trust Co. now owns 13,124 shares of the chip maker’s stock valued at $439,000 after purchasing an additional 350 shares during the last quarter. 60.84% of the stock is owned by institutional investors.
Insider Transactions at Intel
In other Intel news, CEO Patrick P. Gelsinger acquired 3,850 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the acquisition, the chief executive officer now owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 3,250 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $35.87 per share, with a total value of $116,577.50. Following the acquisition, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 3,850 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, with a total value of $133,325.50. Following the purchase, the chief executive officer now owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.
Intel Price Performance
Intel (NASDAQ:INTC – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. The company had revenue of $12.95 billion during the quarter, compared to analysts’ expectations of $12.03 billion. On average, equities analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.
Intel Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.50 dividend on an annualized basis and a yield of 1.32%. Intel’s payout ratio is -227.26%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Intel in a report on Thursday, August 17th. They issued a “hold” rating for the company. TD Cowen boosted their price target on Intel from $31.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. UBS Group lifted their target price on Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Wells Fargo & Company reduced their price target on shares of Intel from $40.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, July 28th. Finally, Tigress Financial cut their price objective on shares of Intel from $72.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.55.
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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