Intel Co. (NASDAQ:INTC) Shares Acquired by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. grew its holdings in Intel Co. (NASDAQ:INTC) by 81.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 20,770 shares of the chip maker’s stock after buying an additional 9,307 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Intel were worth $640,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Burkett Financial Services LLC acquired a new stake in shares of Intel in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the first quarter valued at about $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Intel in the first quarter valued at about $36,000. Finally, America First Investment Advisors LLC purchased a new stake in shares of Intel in the second quarter valued at about $25,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Trading Down 0.5 %

NASDAQ:INTC opened at $18.98 on Wednesday. The company has a market capitalization of $81.16 billion, a PE ratio of 19.77 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock has a fifty day simple moving average of $25.69 and a 200-day simple moving average of $32.09.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of a number of analyst reports. Barclays dropped their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Benchmark lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wedbush cut their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $32.04.

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.