Lake Street Private Wealth LLC Decreases Stock Position in Intel Co. (NASDAQ:INTC)

Lake Street Private Wealth LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 23.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,628 shares of the chip maker’s stock after selling 7,124 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Intel were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. America First Investment Advisors LLC purchased a new stake in shares of Intel during the second quarter valued at approximately $25,000. Tributary Capital Management LLC bought a new stake in Intel during the 1st quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter valued at $27,000. Spartan Fund Management Inc. purchased a new stake in Intel during the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the 2nd quarter worth $32,000. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

INTC opened at $21.98 on Thursday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock has a 50-day moving average price of $21.55 and a 200-day moving average price of $27.67. The firm has a market cap of $93.57 billion, a PE ratio of 22.90 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.

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 the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.27%. Intel’s dividend payout ratio is 52.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Wedbush dropped their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Truist Financial decreased their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Six 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. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus target price of $31.92.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost 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 in the company, 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 accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Company 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.