Sterneck Capital Management LLC Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Sterneck Capital Management LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,532 shares of the chip maker’s stock after selling 1,500 shares during the quarter. Sterneck Capital Management LLC’s holdings in Intel were worth $200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. America First Investment Advisors LLC purchased a new position in shares of Intel in the 2nd quarter valued at about $25,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. acquired a new stake in Intel during the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel in the 2nd quarter valued at $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

NASDAQ:INTC opened at $22.26 on Friday. The firm’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $29.67. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock has a market cap of $94.76 billion, a PE ratio of 23.19 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

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 analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted ($0.05) earnings per share. Analysts expect that Intel Co. will post -0.47 earnings per share 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 given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on INTC. The Goldman Sachs Group cut their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald cut their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Northland Securities decreased their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.96.

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.