J.W. Cole Advisors Inc. Lowers Stock Position in Intel Co. (NASDAQ:INTC)

J.W. Cole Advisors Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 10.0% in the third quarter, HoldingsChannel.com reports. The fund owned 33,531 shares of the chip maker’s stock after selling 3,722 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Intel were worth $787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. Valley National Advisers Inc. boosted its holdings in Intel by 5.5% during the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after acquiring an additional 330 shares during the period. Norden Group LLC boosted its stake in shares of Intel by 1,827.3% during the 1st quarter. Norden Group LLC now owns 217,380 shares of the chip maker’s stock valued at $9,602,000 after purchasing an additional 206,101 shares in the last quarter. Massachusetts Wealth Management grew its holdings in shares of Intel by 32.7% during the 1st quarter. Massachusetts Wealth Management now owns 10,318 shares of the chip maker’s stock worth $456,000 after acquiring an additional 2,542 shares during the period. Advisor Resource Council grew its stake in Intel by 579.1% in the first quarter. Advisor Resource Council now owns 32,326 shares of the chip maker’s stock worth $1,428,000 after purchasing an additional 27,566 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in shares of Intel by 10.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 98,005 shares of the chip maker’s stock worth $4,329,000 after buying an additional 9,457 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 0.1 %

NASDAQ INTC opened at $22.90 on Wednesday. The stock’s 50-day moving average price is $21.69 and its 200-day moving average price is $27.19. The company has a market capitalization of $97.49 billion, a P/E ratio of 23.85 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last issued 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). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. On average, equities research analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.18%. Intel’s dividend payout ratio is presently 52.08%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INTC shares. Susquehanna cut their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial reduced their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Northland Securities dropped their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Finally, TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $30.80.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased 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 $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

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.