Intel Co. (NASDAQ:INTC) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 19.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,921 shares of the chip maker’s stock after acquiring an additional 31,637 shares during the quarter. Apollon Wealth Management LLC’s holdings in Intel were worth $6,037,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in INTC. Altus Wealth Management LLC raised its stake in shares of Intel by 46.5% during the 2nd quarter. Altus Wealth Management LLC now owns 8,175 shares of the chip maker’s stock worth $253,000 after buying an additional 2,594 shares in the last quarter. MONECO Advisors LLC boosted its holdings in shares of Intel by 25.7% during the second quarter. MONECO Advisors LLC now owns 25,230 shares of the chip maker’s stock worth $781,000 after purchasing an additional 5,155 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in shares of Intel by 21.1% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 181,338 shares of the chip maker’s stock worth $5,616,000 after purchasing an additional 31,565 shares during the last quarter. Greylin Investment Management Inc boosted its holdings in shares of Intel by 5.7% during the second quarter. Greylin Investment Management Inc now owns 1,020,646 shares of the chip maker’s stock worth $31,609,000 after purchasing an additional 55,419 shares during the last quarter. Finally, Williams Financial LLC purchased a new position in shares of Intel in the 2nd quarter worth $1,211,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on INTC. Susquehanna cut their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Barclays decreased their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their target price 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, The Goldman Sachs Group decreased their target price on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price 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 $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

Intel Stock Performance

Intel stock traded up $0.65 on Monday, reaching $21.52. 65,868,877 shares of the stock were exchanged, compared to its average volume of 52,315,246. The stock has a market cap of $91.61 billion, a PE ratio of 22.42, a PEG ratio of 17.38 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a twelve month low of $18.84 and a twelve month high of $51.28. The firm has a fifty day moving average price of $29.26 and a two-hundred day moving average price of $34.85.

Intel (NASDAQ:INTC) last released 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). 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 1.82% and a net margin of 1.77%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. Sell-side analysts anticipate that Intel Co. will post 0.07 EPS for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, August 7th. Intel’s dividend payout ratio is 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.