Lakewood Asset Management LLC Sells 36,337 Shares of Intel Co. (NASDAQ:INTC)

Lakewood Asset Management LLC reduced its position in Intel Co. (NASDAQ:INTC) by 78.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,901 shares of the chip maker’s stock after selling 36,337 shares during the quarter. Lakewood Asset Management LLC’s holdings in Intel were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of INTC. Johnson Financial Group Inc. raised its position in Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after purchasing an additional 247 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Intel by 5.3% in the 4th quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock worth $250,000 after purchasing an additional 249 shares during the period. Enterprise Financial Services Corp boosted its position in shares of Intel by 2.2% during the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after buying an additional 251 shares during the period. Summit Financial Strategies Inc. grew its stake in shares of Intel by 3.7% during the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after acquiring an additional 265 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its stake in Intel by 5.5% in the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Wedbush reduced their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.04.

Intel Trading Up 0.9 %

Shares of NASDAQ:INTC traded up $0.18 during trading on Friday, reaching $20.87. 48,582,663 shares of the company traded hands, compared to its average volume of 52,228,957. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 52-week low of $18.84 and a 52-week high of $51.28. The business’s fifty day moving average is $29.26 and its 200-day moving average is $34.96. The firm has a market capitalization of $88.84 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.82% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior 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, analysts forecast that Intel Co. will post 0.07 EPS for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.40%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.