Intel Co. (NASDAQ:INTC) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 70.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 69,114 shares of the chip maker’s stock after buying an additional 28,531 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intel were worth $2,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Orion Portfolio Solutions LLC lifted its holdings in Intel by 3.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after buying an additional 2,915 shares in the last quarter. Brookstone Capital Management lifted its holdings in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after buying an additional 27,274 shares in the last quarter. Trexquant Investment LP lifted its holdings in Intel by 69.0% in the 4th quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock worth $3,574,000 after buying an additional 29,040 shares in the last quarter. NBC Securities Inc. lifted its holdings in Intel by 2.6% in the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock worth $736,000 after buying an additional 418 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Intel in the 4th quarter worth $501,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Roth Mkm cut their price objective 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. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Finally, New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six investment 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.04.

Insider Transactions at Intel

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

Intel Trading Up 6.4 %

Intel stock opened at $20.91 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $24.71 and a two-hundred day moving average price of $31.45. The firm has a market capitalization of $89.41 billion, a price-to-earnings ratio of 21.78 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last posted its 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). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. Sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

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.