Greenwich Wealth Management LLC Grows Position in Intel Co. (NASDAQ:INTC)

Greenwich Wealth Management LLC grew its stake in Intel Co. (NASDAQ:INTC) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,155 shares of the chip maker’s stock after buying an additional 1,527 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Intel were worth $1,987,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INTC. America First Investment Advisors LLC purchased a new position in Intel during the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter worth $27,000. Burkett Financial Services LLC bought a new stake in Intel during the fourth quarter valued at about $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the first quarter valued at about $27,000. Finally, Spartan Fund Management Inc. bought a new position in shares of Intel in the second quarter worth about $31,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

Shares of Intel stock opened at $19.66 on Monday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock’s fifty day moving average price is $24.98 and its 200-day moving average price is $31.60. The firm has a market cap of $84.07 billion, a P/E ratio of 20.48 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued 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 return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the firm earned ($0.05) EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INTC. UBS Group decreased their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Roth Mkm lowered 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. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Six equities research 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. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average price target 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.