Hoertkorn Richard Charles Has $3.30 Million Position in Intel Co. (NASDAQ:INTC)

Hoertkorn Richard Charles lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 140,752 shares of the chip maker’s stock after selling 1,841 shares during the period. Intel accounts for about 1.4% of Hoertkorn Richard Charles’ portfolio, making the stock its 22nd largest position. Hoertkorn Richard Charles’ holdings in Intel were worth $3,302,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Intel by 32.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,387 shares of the chip maker’s stock worth $244,000 after purchasing an additional 2,531 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC grew its holdings in shares of Intel by 6.5% during the third quarter. Franklin Parlapiano Turner & Welch LLC now owns 213,629 shares of the chip maker’s stock worth $5,012,000 after purchasing an additional 12,991 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Intel by 3,505.0% during the third quarter. International Assets Investment Management LLC now owns 2,923,684 shares of the chip maker’s stock worth $68,590,000 after purchasing an additional 2,842,584 shares during the last quarter. Guidance Capital Inc. bought a new stake in shares of Intel during the third quarter worth $486,000. Finally, Altus Wealth Group LLC grew its holdings in shares of Intel by 9.7% during the third quarter. Altus Wealth Group LLC now owns 29,447 shares of the chip maker’s stock worth $691,000 after purchasing an additional 2,605 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on INTC shares. Susquehanna decreased their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Northland Securities decreased their price target on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Truist Financial decreased their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six investment 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. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus price target of $31.92.

Intel Trading Down 1.9 %

NASDAQ INTC opened at $21.98 on Thursday. The firm has a market cap of $93.57 billion, a P/E ratio of 22.90 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. The stock’s 50-day moving average is $21.55 and its 200-day moving average is $27.67. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last announced 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). 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 prior year, the business posted ($0.05) EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Intel Company 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.