8,714 Shares in Intel Co. (NASDAQ:INTC) Acquired by Horst & Graben Wealth Management LLC

Horst & Graben Wealth Management LLC purchased a new stake in Intel Co. (NASDAQ:INTC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,714 shares of the chip maker’s stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Modus Advisors LLC acquired a new position in Intel in the second quarter valued at approximately $25,000. Price Wealth LLC boosted its holdings in Intel by 119.5% in the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after purchasing an additional 251 shares in the last quarter. Lion Street Advisors LLC acquired a new stake in shares of Intel in the first quarter valued at approximately $29,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of Intel in the second quarter valued at approximately $60,000. Finally, Bay Harbor Wealth Management LLC boosted its holdings in shares of Intel by 17.3% in the first quarter. Bay Harbor Wealth Management LLC now owns 1,218 shares of the chip maker’s stock valued at $66,000 after acquiring an additional 180 shares during the period. 64.95% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on INTC. Loop Capital decreased their price objective on Intel from $59.00 to $50.00 and set a “sell” rating for the company in a report on Friday, July 24th. Sanford C. Bernstein downgraded Intel from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a report on Friday, July 24th. BNP Paribas downgraded Intel from an “outperform” rating to an “underperform” rating in a report on Friday, July 24th. Bank of America downgraded Intel from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $70.00 to $62.00 in a report on Friday, July 24th. Finally, BofA Securities downgraded Intel from a “buy” rating to a “neutral” rating in a report on Friday, July 24th. Twelve analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $61.67.

In related news, EVP Navin Shenoy sold 7,018 shares of Intel stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $59.83, for a total transaction of $419,886.94. Following the completion of the sale, the executive vice president now owns 68,942 shares in the company, valued at approximately $4,124,799.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Holmes Swan acquired 8,021 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were bought at an average price of $50.00 per share, with a total value of $401,050.00. Following the transaction, the chief executive officer now owns 293,594 shares in the company, valued at approximately $14,679,700. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Shares of INTC stock opened at $47.73 on Friday. Intel Co. has a fifty-two week low of $43.63 and a fifty-two week high of $69.29. The stock has a market cap of $204.10 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.32 and a beta of 0.78. The business has a fifty day simple moving average of $58.00 and a 200-day simple moving average of $59.19. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.12. Intel had a return on equity of 31.55% and a net margin of 29.97%. The business had revenue of $19.73 billion during the quarter, compared to analysts’ expectations of $18.54 billion. During the same quarter last year, the business posted $1.06 earnings per share. On average, sell-side analysts anticipate that Intel Co. will post 4.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 6th. Intel’s dividend payout ratio is currently 27.10%.

Intel Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

See Also: Coverage Ratio

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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