Intel Co. (NASDAQ:INTC) Stake Boosted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. raised its position in shares of Intel Co. (NASDAQ:INTC) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,346 shares of the chip maker’s stock after buying an additional 1,070 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Intel were worth $571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in Intel in the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new position in shares of Intel during the 2nd quarter worth $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel during the 2nd quarter valued at $33,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 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, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Down 0.1 %

NASDAQ:INTC opened at $22.90 on Wednesday. The firm has a market capitalization of $97.49 billion, a price-to-earnings ratio of 23.85 and a beta of 1.03. 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 stock’s 50 day moving average price is $21.69 and its two-hundred day moving average price is $27.19.

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

Intel Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on INTC shares. JPMorgan Chase & Co. cut their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Northland Securities dropped their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Tuesday. Finally, Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Six research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.80.

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.