Prio Wealth Limited Partnership Has $2.43 Million Stake in Intel Co. (NASDAQ:INTC)

Prio Wealth Limited Partnership lowered its position in Intel Co. (NASDAQ:INTC) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 78,404 shares of the chip maker’s stock after selling 5,640 shares during the period. Prio Wealth Limited Partnership’s holdings in Intel were worth $2,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. Price T Rowe Associates Inc. MD lifted its position in shares of Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. Capital International Investors lifted its position in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its position in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers lifted its position in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, Caxton Associates LP acquired a new position in shares of Intel in the 2nd quarter worth approximately $162,592,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Roth Mkm dropped their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. UBS Group decreased their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Finally, Barclays dropped their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Six investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Trading Down 3.3 %

Shares of INTC stock opened at $22.69 on Wednesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a 50-day simple moving average of $22.18 and a two-hundred day simple moving average of $29.77. The company has a market capitalization of $96.59 billion, a price-to-earnings ratio of 23.64 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 earnings per share (EPS) 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 firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

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.