11,785 Shares in Intel Co. (NASDAQ:INTC) Bought by Prospect Financial Services LLC

Prospect Financial Services LLC acquired a new position in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,785 shares of the chip maker’s stock, valued at approximately $276,000.

A number of other large investors have also recently bought and sold shares of the company. Swedbank AB grew its position in Intel by 0.3% in the third quarter. Swedbank AB now owns 1,666,889 shares of the chip maker’s stock valued at $39,105,000 after acquiring an additional 4,300 shares during the last quarter. Harrington Investments INC lifted its holdings in shares of Intel by 1.3% in the third quarter. Harrington Investments INC now owns 87,995 shares of the chip maker’s stock worth $2,064,000 after acquiring an additional 1,162 shares during the last quarter. Fiduciary Alliance LLC boosted its stake in shares of Intel by 198.2% in the 3rd quarter. Fiduciary Alliance LLC now owns 45,038 shares of the chip maker’s stock valued at $1,057,000 after purchasing an additional 29,936 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Intel by 62.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 29,429 shares of the chip maker’s stock valued at $690,000 after purchasing an additional 11,272 shares during the last quarter. Finally, Orca Investment Management LLC increased its position in Intel by 3.7% during the 3rd quarter. Orca Investment Management LLC now owns 58,246 shares of the chip maker’s stock worth $1,366,000 after purchasing an additional 2,091 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INTC shares. Northland Securities cut their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $22.00 in a report on Thursday, August 8th. UBS Group cut their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel has an average rating of “Hold” and an average target price of $31.96.

Intel Price Performance

INTC stock opened at $22.66 on Wednesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock has a market capitalization of $96.46 billion, a PE ratio of 23.60 and a beta of 1.03. The company’s 50-day moving average is $21.24 and its 200-day moving average is $28.37. 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 announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was down .8% on a year-over-year basis. Equities research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $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 the SEC website. Corporate insiders own 0.04% of the company’s stock.

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.