Fortis Group Advisors LLC Boosts Stake in Intel Co. (NASDAQ:INTC)

Fortis Group Advisors LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 760.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,005 shares of the chip maker’s stock after buying an additional 13,262 shares during the period. Fortis Group Advisors LLC’s holdings in Intel were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of INTC. Orion Portfolio Solutions LLC increased its position 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 valued at $4,764,000 after acquiring an additional 2,915 shares during the period. Brookstone Capital Management increased its position in shares of Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after acquiring an additional 27,274 shares during the period. Trexquant Investment LP increased its position in shares of Intel by 69.0% in the 4th quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock valued at $3,574,000 after acquiring an additional 29,040 shares during the period. NBC Securities Inc. increased its position in shares of Intel by 2.6% in the 1st 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 period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Intel in the 4th quarter valued at $501,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Intel Price Performance

INTC traded up $1.91 during trading on Friday, reaching $22.04. The company’s stock had a trading volume of 177,785,378 shares, compared to its average volume of 53,623,316. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $27.24 and a two-hundred day simple moving average of $33.41. Intel Co. has a 1 year low of $18.84 and a 1 year high of $51.28. The company has a market cap of $93.82 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its quarterly 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 return on equity of 1.82% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) EPS. As a group, analysts anticipate that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.27%. Intel’s dividend payout ratio is currently 52.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INTC shares. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Susquehanna cut their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Benchmark downgraded Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. UBS Group cut their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research report 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.