Creative Planning Sells 9,612 Shares of Intel Co. (NASDAQ:INTC)

Creative Planning decreased its position in Intel Co. (NASDAQ:INTC) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,260,701 shares of the chip maker’s stock after selling 9,612 shares during the quarter. Creative Planning’s holdings in Intel were worth $39,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in shares of Intel by 16.2% in the 4th quarter. Jones Financial Companies Lllp now owns 19,021 shares of the chip maker’s stock valued at $956,000 after acquiring an additional 2,649 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Intel by 3.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,141,151 shares of the chip maker’s stock worth $157,843,000 after purchasing an additional 115,236 shares during the period. CWA Asset Management Group LLC increased its position in shares of Intel by 12.0% during the 4th quarter. CWA Asset Management Group LLC now owns 20,225 shares of the chip maker’s stock valued at $1,016,000 after purchasing an additional 2,167 shares during the last quarter. Wellspring Financial Advisors LLC bought a new stake in Intel in the fourth quarter worth $263,000. Finally, NEOS Investment Management LLC boosted its stake in Intel by 5.3% during the fourth quarter. NEOS Investment Management LLC now owns 203,472 shares of the chip maker’s stock worth $10,224,000 after buying an additional 10,267 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 0.0 %

Shares of Intel stock opened at $23.91 on Monday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The firm’s 50 day moving average price is $22.58 and its 200-day moving average price is $30.05. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $101.78 billion, a P/E ratio of 24.91 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.09%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INTC. Susquehanna reduced their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Northland Securities decreased their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reduced their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Truist Financial dropped their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

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.