Argyle Capital Management Inc. Has $2.48 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

by · The Cerbat Gem

Argyle Capital Management Inc. boosted its stake in Intel Co. (NASDAQ:INTC – Free Report) by 9.5% during the third quarter, Holdings Channel reports. The institutional investor owned 105,740 shares of the chip maker’s stock after buying an additional 9,150 shares during the period. Argyle Capital Management Inc.’s holdings in Intel were worth $2,481,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fortitude Family Office LLC boosted its holdings in shares of Intel by 158.0% during the third quarter. Fortitude Family Office LLC now owns 12,729 shares of the chip maker’s stock worth $299,000 after acquiring an additional 7,796 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Intel by 111.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,238 shares of the chip maker’s stock worth $1,272,000 after purchasing an additional 28,642 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in Intel by 49.9% in the 3rd quarter. Traynor Capital Management Inc. now owns 11,766 shares of the chip maker’s stock valued at $276,000 after purchasing an additional 3,917 shares during the period. abrdn plc grew its holdings in Intel by 16.2% in the 3rd quarter. abrdn plc now owns 6,955,437 shares of the chip maker’s stock valued at $163,279,000 after buying an additional 970,626 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in Intel by 14.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 24,022 shares of the chip maker’s stock worth $537,000 after buying an additional 2,962 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on INTC shares. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Truist Financial cut their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $30.80.

Check Out Our Latest Analysis on INTC

Intel Trading Down 0.1 %

Shares of INTC stock traded down $0.02 during trading hours on Tuesday, hitting $22.90. 12,469,562 shares of the company’s stock traded hands, compared to its average volume of 58,288,758. The stock has a market cap of $97.49 billion, a PE ratio of 23.95 and a beta of 1.03. The stock’s 50 day simple moving average is $21.65 and its 200 day simple moving average is $27.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC – Get Free Report) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.18%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Intel Profile

(Free Report)

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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