Ritholtz Wealth Management Lowers Stake in Intel Co. (NASDAQ:INTC)

Ritholtz Wealth Management lessened its stake in Intel Co. (NASDAQ:INTC) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,835 shares of the chip maker’s stock after selling 14,444 shares during the period. Ritholtz Wealth Management’s holdings in Intel were worth $559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. purchased a new position in shares of Intel during the second quarter worth approximately $2,178,000. Private Advisory Group LLC bought a new position in Intel in the third quarter worth approximately $8,045,000. Brookstone Capital Management increased its holdings in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares during the period. Sanibel Captiva Trust Company Inc. raised its position in Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Intel by 7.2% in the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after buying an additional 58,021 shares during the period. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on INTC. Truist Financial cut their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Susquehanna reduced their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays dropped 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 note on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.96.

Intel Trading Down 3.3 %

Shares of NASDAQ:INTC opened at $22.66 on Wednesday. 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. The stock has a market cap of $96.46 billion, a price-to-earnings ratio of 23.60 and a beta of 1.03. The business has a 50-day moving average price of $21.24 and a 200-day moving average price of $28.37.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The business’s revenue was down .8% on a year-over-year basis. Equities analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently announced 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 of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.21%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average price 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 in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by corporate insiders.

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.