Patriot Financial Group Insurance Agency LLC Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Patriot Financial Group Insurance Agency LLC increased its holdings in Intel Co. (NASDAQ:INTC) by 124.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,969 shares of the chip maker’s stock after purchasing an additional 24,969 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Intel were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of INTC. Vanguard Group Inc. increased its position in shares of Intel by 0.9% during 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 purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors increased its position in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $1,759,811,000 after acquiring an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings 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 worth $1,161,779,000 after acquiring an additional 487,191 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $22.92 on Tuesday. The company has a 50 day moving average of $21.65 and a two-hundred day moving average of $27.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market cap of $97.57 billion, a price-to-earnings ratio of 23.88 and a beta of 1.03.

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 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 during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Susquehanna reduced their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, August 2nd. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley decreased their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on 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 acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is owned by company insiders.

Intel Company 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.