Boyar Asset Management Inc. Sells 741 Shares of Intel Co. (NASDAQ:INTC)

Boyar Asset Management Inc. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,435 shares of the chip maker’s stock after selling 741 shares during the period. Intel comprises about 1.1% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Boyar Asset Management Inc.’s holdings in Intel were worth $1,624,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC increased its holdings in shares of 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 during the last quarter. Brookstone Capital Management increased its position in shares of Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares during the last quarter. Trexquant Investment LP raised its holdings in Intel by 69.0% during the 4th quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock valued at $3,574,000 after buying an additional 29,040 shares during the period. NBC Securities Inc. increased its position in Intel by 2.6% during the first quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after acquiring an additional 418 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Intel during the fourth quarter valued at approximately $501,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INTC shares. Roth Mkm lowered their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Truist Financial dropped their target price on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. TD Cowen decreased their price objective on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, Barclays cut their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

Shares of NASDAQ INTC opened at $18.89 on Friday. The business has a 50 day simple moving average of $26.17 and a 200-day simple moving average of $32.59. Intel Co. has a twelve month low of $18.64 and a twelve month high of $51.28. The company has a market capitalization of $80.41 billion, a price-to-earnings ratio of 19.68 and a beta of 1.05. 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 released its quarterly earnings data 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 company 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts expect that Intel Co. will post -0.46 earnings per share for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.65%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity

In other Intel 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 acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.