Partnership Wealth Management LLC Decreases Position in Intel Co. (NASDAQ:INTC)

Partnership Wealth Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 81.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,316 shares of the chip maker’s stock after selling 36,547 shares during the quarter. Partnership Wealth Management LLC’s holdings in Intel were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. America First Investment Advisors LLC purchased a new stake in Intel during the 2nd quarter valued at $25,000. Tributary Capital Management LLC bought a new position in shares of Intel during the first quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter valued at $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel in the 2nd quarter worth about $32,000. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Truist Financial dropped their target price on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.96.

Intel Trading Up 4.2 %

Intel stock opened at $23.32 on Wednesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm’s 50 day moving average price is $21.34 and its 200-day moving average price is $29.08. 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 stock has a market cap of $99.27 billion, a P/E ratio of 24.29 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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 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 quarter in the prior year, the firm posted ($0.05) earnings per share. The business’s revenue was down .8% on a year-over-year basis. On average, equities analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company 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 2.14%. Intel’s dividend payout ratio (DPR) is 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.