Cypress Capital Group Grows Stock Holdings in Intel Co. (NASDAQ:INTC)

Cypress Capital Group increased its position in shares of Intel Co. (NASDAQ:INTC) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,173 shares of the chip maker’s stock after purchasing an additional 4,476 shares during the period. Cypress Capital Group’s holdings in Intel were worth $3,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INTC. Johnson Financial Group Inc. raised its position in Intel by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after buying an additional 247 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Intel by 5.3% in the 4th quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock valued at $250,000 after purchasing an additional 249 shares during the period. Enterprise Financial Services Corp lifted its position in shares of Intel by 2.2% in the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after purchasing an additional 251 shares in the last quarter. Summit Financial Strategies Inc. boosted its holdings in shares of Intel by 3.7% during the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after purchasing an additional 265 shares during the period. Finally, Cape Investment Advisory Inc. grew its position in Intel by 5.5% during the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after purchasing an additional 270 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on INTC. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wedbush dropped their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.04.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by insiders.

Intel Price Performance

Shares of NASDAQ:INTC traded up $0.44 during trading on Friday, reaching $20.54. The stock had a trading volume of 73,398,430 shares, compared to its average volume of 52,838,734. The stock has a market capitalization of $87.44 billion, a PE ratio of 21.40, a P/E/G ratio of 17.38 and a beta of 1.05. Intel Co. has a 52 week low of $18.84 and a 52 week high of $51.28. The business’s 50-day moving average price is $28.28 and its 200 day moving average price is $34.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC) last issued its quarterly 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 1.82% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the company earned ($0.05) EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post 0.07 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.43%. Intel’s dividend payout ratio is currently 52.08%.

About Intel

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.