Heritage Family Offices LLP Sells 16,225 Shares of Intel Co. (NASDAQ:INTC)

17 Oct 2024, 20:40 by Danessa Lincoln · The Markets Daily

Heritage Family Offices LLP lowered its position in Intel Co. (NASDAQ:INTC – Free Report) by 60.0% during the third quarter, Holdings Channel reports. The firm owned 10,826 shares of the chip maker’s stock after selling 16,225 shares during the period. Heritage Family Offices LLP’s holdings in Intel were worth $254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its position in shares of Intel by 105.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 4,251 shares of the chip maker’s stock valued at $100,000 after acquiring an additional 2,179 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Intel by 9.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 70,855 shares of the chip maker’s stock worth $1,662,000 after buying an additional 6,132 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Intel by 90.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,143,633 shares of the chip maker’s stock worth $26,830,000 after acquiring an additional 543,598 shares in the last quarter. Jamison Private Wealth Management Inc. grew its stake in shares of Intel by 3.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 126,494 shares of the chip maker’s stock worth $2,968,000 after acquiring an additional 4,558 shares in the last quarter. Finally, Applied Capital LLC FL grew its stake in shares of Intel by 5.1% in the 3rd quarter. Applied Capital LLC FL now owns 19,872 shares of the chip maker’s stock worth $466,000 after acquiring an additional 965 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INTC shares. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barclays cut their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Morgan Stanley lowered their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.96.

Read Our Latest Analysis on Intel

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $22.31 on Thursday. The stock has a market cap of $94.97 billion, a P/E ratio of 23.24 and a beta of 1.03. The firm’s fifty day simple moving average is $21.30 and its 200 day simple moving average is $28.33. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. 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 (NASDAQ:INTC – Get Free Report) last released its quarterly 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). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Intel Company 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.