Gateway Wealth Partners LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Gateway Wealth Partners LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,144 shares of the chip maker’s stock after selling 610 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Intel were worth $426,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Valley National Advisers Inc. raised its stake in shares of Intel by 5.5% during the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock worth $278,000 after acquiring an additional 330 shares in the last quarter. Norden Group LLC raised its stake in shares of Intel by 1,827.3% during the 1st quarter. Norden Group LLC now owns 217,380 shares of the chip maker’s stock worth $9,602,000 after acquiring an additional 206,101 shares in the last quarter. Massachusetts Wealth Management raised its stake in shares of Intel by 32.7% during the 1st quarter. Massachusetts Wealth Management now owns 10,318 shares of the chip maker’s stock worth $456,000 after acquiring an additional 2,542 shares in the last quarter. Advisor Resource Council raised its stake in shares of Intel by 579.1% during the 1st quarter. Advisor Resource Council now owns 32,326 shares of the chip maker’s stock worth $1,428,000 after acquiring an additional 27,566 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Intel by 10.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 98,005 shares of the chip maker’s stock worth $4,329,000 after acquiring an additional 9,457 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of NASDAQ INTC opened at $22.90 on Wednesday. The company’s fifty day moving average price is $21.69 and its 200 day moving average price is $27.19. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a market capitalization of $97.49 billion, a PE ratio of 23.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the company posted ($0.05) earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.18%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INTC shares. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Truist Financial cut their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.80.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

Intel Profile

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.