Intel Co. (NASDAQ:INTC) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its stake in Intel Co. (NASDAQ:INTC) by 17.3% in the second quarter, HoldingsChannel reports. The fund owned 166,626 shares of the chip maker’s stock after purchasing an additional 24,596 shares during the period. Axxcess Wealth Management LLC’s holdings in Intel were worth $5,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. America First Investment Advisors LLC acquired a new position in shares of Intel in the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new position in Intel in the fourth quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel in the first quarter worth about $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Intel during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 2.7 %

Shares of INTC stock opened at $21.47 on Wednesday. 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 Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company’s 50-day moving average price is $24.45 and its 200-day moving average price is $31.29. The stock has a market cap of $91.40 billion, a price-to-earnings ratio of 22.36 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.33%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following 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 legal filing with the SEC, which is available through this link. 0.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. Barclays cut their price target 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. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Benchmark lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.04.

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.