Intel Co. (NASDAQ:INTC) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 904,182 shares of the chip maker’s stock after purchasing an additional 141,818 shares during the period. Gateway Investment Advisers LLC’s holdings in Intel were worth $21,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INTC. America First Investment Advisors LLC acquired a new stake in shares of Intel during the second quarter valued at approximately $25,000. Tributary Capital Management LLC acquired a new position in Intel during the first quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter worth about $27,000. Spartan Fund Management Inc. acquired a new stake in Intel during the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Susquehanna dropped their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Finally, Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.96.

Intel Trading Up 1.5 %

Shares of NASDAQ INTC traded up $0.34 during midday trading on Friday, hitting $23.56. The stock had a trading volume of 43,585,252 shares, compared to its average volume of 59,055,309. 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 Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a market cap of $100.74 billion, a P/E ratio of 102.44 and a beta of 1.03. The company’s 50-day simple moving average is $21.12 and its 200 day simple moving average is $28.87.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted ($0.05) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts anticipate 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. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 217.40%.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

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.