Pekin Hardy Strauss Inc. Sells 3,038 Shares of Intel Co. (NASDAQ:INTC)

Pekin Hardy Strauss Inc. reduced its position in Intel Co. (NASDAQ:INTC) by 25.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,800 shares of the chip maker’s stock after selling 3,038 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Intel were worth $273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC boosted its stake in shares of Intel by 3.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after purchasing an additional 2,915 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of 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 purchasing an additional 27,274 shares in the last quarter. Trexquant Investment LP boosted its stake in shares of Intel by 69.0% in the 4th quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock valued at $3,574,000 after purchasing an additional 29,040 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Intel by 2.6% in the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after purchasing an additional 418 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Intel in the 4th quarter valued at $501,000. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTC. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Truist Financial reduced their price target 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. Morgan Stanley reduced their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.04.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC opened at $21.47 on Wednesday. The stock’s 50-day simple moving average is $24.45 and its 200 day simple moving average is $31.29. The stock has a market capitalization of $91.40 billion, a price-to-earnings ratio of 22.36 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. Research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.33%. Intel’s dividend payout ratio is currently 52.08%.

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.