Hennion & Walsh Asset Management Inc. Buys 2,531 Shares of Intel Co. (NASDAQ:INTC)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Intel Co. (NASDAQ:INTC) by 32.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,387 shares of the chip maker’s stock after purchasing an additional 2,531 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Intel were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. William B. Walkup & Associates Inc. acquired a new stake in shares of Intel in the 2nd quarter valued at $2,178,000. Fortis Group Advisors LLC boosted its holdings in Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the last quarter. Private Advisory Group LLC acquired a new stake in Intel in the third quarter worth about $8,045,000. Sanibel Captiva Trust Company Inc. raised its holdings 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 worth $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Brookstone Capital Management raised its holdings in Intel by 18.9% during the 3rd quarter. Brookstone Capital Management now owns 52,075 shares of the chip maker’s stock worth $1,222,000 after purchasing an additional 8,282 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 0.1 %

NASDAQ:INTC opened at $22.90 on Wednesday. The stock has a 50-day simple moving average of $21.69 and a 200 day simple moving average of $27.19. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market cap of $97.49 billion, a PE ratio of 23.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. Intel’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 yield of 2.18%. Intel’s payout ratio is currently 52.08%.

Analyst Upgrades and Downgrades

INTC has been the subject of several analyst reports. Truist Financial lowered their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Susquehanna dropped their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barclays reduced their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.