Miracle Mile Advisors LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Miracle Mile Advisors LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 79.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,638 shares of the chip maker’s stock after selling 129,325 shares during the period. Miracle Mile Advisors LLC’s holdings in Intel were worth $789,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Everpar Advisors LLC raised its position in shares of Intel by 5.1% in the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after buying an additional 504 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Intel by 2.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 35,489 shares of the chip maker’s stock worth $833,000 after acquiring an additional 998 shares during the last quarter. Melone Private Wealth LLC acquired a new stake in Intel during the third quarter worth about $242,000. Handelsbanken Fonder AB raised its holdings in shares of Intel by 0.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,573,894 shares of the chip maker’s stock worth $36,924,000 after purchasing an additional 8,434 shares during the period. Finally, HBW Advisory Services LLC lifted its stake in shares of Intel by 8.6% in the 3rd quarter. HBW Advisory Services LLC now owns 8,909 shares of the chip maker’s stock valued at $209,000 after purchasing an additional 704 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was 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 hyperlink. 0.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INTC. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of Intel in a research report on Monday, September 23rd. UBS Group reduced their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $31.96.

Intel Stock Up 4.2 %

Shares of NASDAQ:INTC opened at $23.32 on Wednesday. The company’s fifty day moving average is $21.47 and its two-hundred day moving average is $29.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market capitalization of $99.27 billion, a price-to-earnings ratio of 24.29 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. Equities analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 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.