Aaron Wealth Advisors LLC Sells 4,459 Shares of Intel Co. (NASDAQ:INTC)

Aaron Wealth Advisors LLC cut its stake in Intel Co. (NASDAQ:INTC) by 18.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,984 shares of the chip maker’s stock after selling 4,459 shares during the period. Aaron Wealth Advisors LLC’s holdings in Intel were worth $469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC grew its holdings in shares of Intel by 25.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 88,765 shares of the chip maker’s stock worth $2,082,000 after purchasing an additional 17,816 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in Intel by 48.4% during the third quarter. Onyx Bridge Wealth Group LLC now owns 27,981 shares of the chip maker’s stock worth $656,000 after buying an additional 9,121 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Intel by 6.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 858,374 shares of the chip maker’s stock valued at $20,137,000 after buying an additional 49,193 shares during the period. Ballast Inc. raised its stake in shares of Intel by 10.5% in the 3rd quarter. Ballast Inc. now owns 33,851 shares of the chip maker’s stock valued at $794,000 after buying an additional 3,228 shares in the last quarter. Finally, Sweet Financial Partners LLC lifted its holdings in shares of Intel by 20.9% during the 3rd quarter. Sweet Financial Partners LLC now owns 33,045 shares of the chip maker’s stock worth $775,000 after acquiring an additional 5,702 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction 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 corporate insiders.

Intel Stock Up 1.5 %

Shares of NASDAQ:INTC opened at $22.77 on Friday. The company has a 50 day moving average of $21.40 and a 200-day moving average of $28.14. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03. 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 issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS 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 business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of analyst reports. Bank of America cut shares of 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. The Goldman Sachs Group dropped their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Susquehanna dropped their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Truist Financial cut their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.92.

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.