Cranbrook Wealth Management LLC Has $283,000 Position in Intel Co. (NASDAQ:INTC)

Cranbrook Wealth Management LLC grew its position in Intel Co. (NASDAQ:INTC) by 184.0% during the second quarter, HoldingsChannel reports. The firm owned 9,152 shares of the chip maker’s stock after buying an additional 5,930 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Intel were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. Axxcess Wealth Management LLC boosted its holdings in Intel by 17.3% during the second quarter. Axxcess Wealth Management LLC now owns 166,626 shares of the chip maker’s stock valued at $5,160,000 after acquiring an additional 24,596 shares during the period. Frisch Financial Group Inc. boosted its stake in Intel by 138.0% during the 2nd quarter. Frisch Financial Group Inc. now owns 30,834 shares of the chip maker’s stock valued at $955,000 after purchasing an additional 17,878 shares during the period. Virtu Financial LLC acquired a new stake in Intel in the 2nd quarter valued at approximately $5,206,000. Edgestream Partners L.P. grew its holdings in Intel by 74.1% in the 2nd quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock valued at $373,000 after buying an additional 5,124 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, 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 hyperlink. 0.04% of the stock is owned by insiders.

Intel Stock Performance

Intel stock opened at $20.91 on Tuesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a market cap of $89.41 billion, a PE ratio of 21.78 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. The company’s 50-day moving average is $24.71 and its two-hundred day moving average is $31.45.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during 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 business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. Equities analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.39%. Intel’s dividend payout ratio is 52.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTC. Cantor Fitzgerald lowered their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Truist Financial decreased 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. Finally, Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Six equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.04.

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.