Prio Wealth Limited Partnership Has $1.72 Million Stake in Intel Co. (NASDAQ:INTC)

Prio Wealth Limited Partnership reduced its position in Intel Co. (NASDAQ:INTC) by 6.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 73,104 shares of the chip maker’s stock after selling 5,300 shares during the period. Prio Wealth Limited Partnership’s holdings in Intel were worth $1,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors increased its stake in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its stake in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 2,457,243 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after buying an additional 487,191 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Down 2.2 %

Shares of INTC stock traded down $0.49 on Monday, hitting $22.28. 11,990,931 shares of the stock were exchanged, compared to its average volume of 58,594,703. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $94.85 billion, a P/E ratio of 23.33 and a beta of 1.03. The business has a 50-day moving average of $21.40 and a 200 day moving average of $27.94. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last posted 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 firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. Equities 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 of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.24%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Morgan Stanley decreased their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America cut Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.92.

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.