Cornerstone Wealth Management LLC Grows Holdings in Intel Co. (NASDAQ:INTC)

Cornerstone Wealth Management LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,897 shares of the chip maker’s stock after buying an additional 8,336 shares during the period. Cornerstone Wealth Management LLC’s holdings in Intel were worth $1,171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the second quarter worth approximately $2,178,000. Private Advisory Group LLC purchased a new stake in shares of Intel in the third quarter worth $8,045,000. Brookstone Capital Management raised its holdings in Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after acquiring an additional 27,274 shares during the period. Sanibel Captiva Trust Company Inc. raised its stake 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 during the period. Finally, Czech National Bank lifted its holdings in shares of Intel by 7.2% in the third 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 in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

NASDAQ:INTC opened at $22.44 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $21.34 and its 200-day moving average price is $28.29. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market cap of $95.53 billion, a P/E ratio of 23.38 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given 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 yield of 2.23%. Intel’s payout ratio is currently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost 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 $765,576. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research reports. Roth Mkm dropped their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Daiwa America raised Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Morgan Stanley cut their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.92.

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.