Sanctuary Advisors LLC Buys New Position in Intel Co. (NASDAQ:INTC)

Sanctuary Advisors LLC purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 290,636 shares of the chip maker’s stock, valued at approximately $9,265,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the second quarter valued at $2,178,000. Brookstone Capital Management grew its stake in shares of Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after acquiring an additional 27,274 shares in the last quarter. NBC Securities Inc. increased its position in shares of Intel by 2.6% during the first quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock worth $736,000 after acquiring an additional 418 shares during the last quarter. Red Mountain Financial LLC acquired a new position in shares of Intel in the fourth quarter worth about $859,000. Finally, Cetera Investment Advisers boosted its holdings in Intel by 262.9% in the first quarter. Cetera Investment Advisers now owns 787,130 shares of the chip maker’s stock valued at $34,768,000 after purchasing an additional 570,249 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on INTC shares. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Cantor Fitzgerald cut their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barclays decreased their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. 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 company. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $31.96.

Intel Stock Performance

INTC opened at $22.26 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $21.82 and its 200-day moving average is $29.67. The stock has a market cap of $94.76 billion, a PE ratio of 23.19 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share 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 the consensus estimate of $12.92 billion. During the same period in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

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.