Intel Co. (NASDAQ:INTC) Shares Bought by Eastern Bank

Eastern Bank grew its stake in Intel Co. (NASDAQ:INTC) by 231.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 66,949 shares of the chip maker’s stock after buying an additional 46,760 shares during the period. Eastern Bank’s holdings in Intel were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in INTC. Traphagen Investment Advisors LLC raised its stake in Intel by 4.8% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 12,681 shares of the chip maker’s stock worth $297,000 after acquiring an additional 579 shares during the last quarter. Fortis Group Advisors LLC raised its stake in shares of Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the last quarter. Calton & Associates Inc. lifted its holdings in shares of Intel by 14.8% during the third quarter. Calton & Associates Inc. now owns 8,702 shares of the chip maker’s stock worth $204,000 after purchasing an additional 1,125 shares during the period. Foundations Investment Advisors LLC boosted its position in Intel by 5.4% in the third quarter. Foundations Investment Advisors LLC now owns 31,071 shares of the chip maker’s stock valued at $729,000 after buying an additional 1,589 shares during the last quarter. Finally, Integrity Financial Corp WA acquired a new position in Intel in the 3rd quarter worth approximately $257,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on 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 purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Down 1.9 %

Shares of Intel stock opened at $22.40 on Wednesday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market cap of $95.36 billion, a P/E ratio of 23.33 and a beta of 1.03. 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’s 50 day simple moving average is $21.51 and its 200-day simple moving average is $27.71.

Intel (NASDAQ:INTC) last issued its 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). The company had revenue of $12.80 billion during 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%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) earnings per share. Analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.23%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.92.

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.