DORCHESTER WEALTH MANAGEMENT Co Raises Position in Intel Co. (NASDAQ:INTC)

by · The Cerbat Gem

DORCHESTER WEALTH MANAGEMENT Co lifted its stake in Intel Co. (NASDAQ:INTC – Free Report) by 105.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,635 shares of the chip maker’s stock after purchasing an additional 10,585 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Intel were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INTC. America First Investment Advisors LLC bought a new position in shares of Intel in the second quarter worth approximately $25,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the first quarter worth $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. bought a new position in Intel during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the 2nd quarter worth approximately $32,000. 64.53% of the stock is owned by institutional investors.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Up 0.8 %

Shares of NASDAQ:INTC traded up $0.18 on Thursday, reaching $22.16. The company had a trading volume of 9,411,752 shares, compared to its average volume of 58,394,758. 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 firm has a market capitalization of $94.34 billion, a PE ratio of 22.90 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The firm’s 50 day simple moving average is $21.55 and its 200-day simple moving average is $27.67.

Intel (NASDAQ:INTC – Get Free Report) last announced its 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 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the firm posted ($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 expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.92.

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Intel Profile

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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.

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