Fortis Group Advisors LLC Has $4.06 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Fortis Group Advisors LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 1,052.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 172,996 shares of the chip maker’s stock after acquiring an additional 157,991 shares during the period. Fortis Group Advisors LLC’s holdings in Intel were worth $4,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new position in Intel during the second quarter valued at approximately $2,178,000. Private Advisory Group LLC bought a new stake in shares of Intel during the 3rd quarter worth $8,045,000. Brookstone Capital Management grew its stake in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after buying an additional 27,274 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its holdings in Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after acquiring an additional 48,765 shares during the period. Finally, Czech National Bank lifted its position in Intel by 7.2% during the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after acquiring an additional 58,021 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wedbush lowered their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.92.

Intel Stock Down 1.5 %

INTC traded down $0.34 during trading on Tuesday, reaching $22.50. The company had a trading volume of 6,029,302 shares, compared to its average volume of 58,480,285. The business’s fifty day moving average price is $21.47 and its 200 day moving average price is $27.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a market cap of $95.78 billion, a P/E ratio of 23.79 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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 company had revenue of $12.80 billion during 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%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share. Equities analysts anticipate that Intel Co. will post -0.47 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 given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

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.