Sunbelt Securities Inc. Has $105,000 Stock Holdings in Intel Co. (NASDAQ:INTC)

Sunbelt Securities Inc. grew its stake in Intel Co. (NASDAQ:INTC) by 180.4% during the second quarter, HoldingsChannel.com reports. The firm owned 3,379 shares of the chip maker’s stock after buying an additional 2,174 shares during the period. Sunbelt Securities Inc.’s holdings in Intel were worth $105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Belpointe Asset Management LLC raised its holdings in Intel by 7.0% in the fourth quarter. Belpointe Asset Management LLC now owns 13,052 shares of the chip maker’s stock worth $656,000 after purchasing an additional 853 shares during the period. 1832 Asset Management L.P. raised its stake in Intel by 301.5% during the 4th quarter. 1832 Asset Management L.P. now owns 470,641 shares of the chip maker’s stock worth $23,650,000 after buying an additional 353,426 shares during the period. Exencial Wealth Advisors LLC raised its stake in Intel by 13.7% during the 4th quarter. Exencial Wealth Advisors LLC now owns 26,055 shares of the chip maker’s stock worth $1,309,000 after buying an additional 3,139 shares during the period. Baldwin Investment Management LLC bought a new position in Intel during the fourth quarter worth about $206,000. Finally, Envestnet Asset Management Inc. grew its stake in Intel by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,038,227 shares of the chip maker’s stock valued at $152,671,000 after acquiring an additional 103,919 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INTC shares. JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research report on Monday, September 23rd. The Goldman Sachs Group cut their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Finally, HSBC cut Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.96.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Intel Price Performance

NASDAQ:INTC opened at $22.26 on Friday. The firm’s fifty day moving average price is $21.82 and its two-hundred day moving average price is $29.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a market cap of $94.76 billion, a P/E ratio of 23.19 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly 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 company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Equities analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

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