Bonness Enterprises Inc. Acquires 10,000 Shares of Intel Co. (NASDAQ:INTC)

Bonness Enterprises Inc. boosted its position in shares of Intel Co. (NASDAQ:INTC) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,150 shares of the chip maker’s stock after acquiring an additional 10,000 shares during the period. Intel accounts for 1.1% of Bonness Enterprises Inc.’s investment portfolio, making the stock its 20th biggest holding. Bonness Enterprises Inc.’s holdings in Intel were worth $3,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mechanics Bank Trust Department raised its stake in Intel by 0.8% in the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after purchasing an additional 320 shares in the last quarter. Guardian Capital Advisors LP raised its position in shares of Intel by 2.1% in the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Intel by 5.5% in the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after buying an additional 330 shares in the last quarter. Richard C. Young & CO. LTD. raised its position in shares of Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after buying an additional 338 shares in the last quarter. Finally, Key Financial Inc raised its position in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after buying an additional 340 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 1.5 %

Shares of NASDAQ:INTC traded up $0.33 during trading on Friday, reaching $22.77. The stock had a trading volume of 39,971,695 shares, compared to its average volume of 58,832,660. 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. The firm’s fifty day moving average is $21.40 and its 200 day moving average is $28.14. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.20%. Intel’s payout ratio is presently 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTC. Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Barclays lowered their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.