Marcum Wealth LLC Raises Holdings in Intel Co. (NASDAQ:INTC)

Marcum Wealth LLC lifted its stake in Intel Co. (NASDAQ:INTCGet Rating) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,462 shares of the chip maker’s stock after acquiring an additional 1,512 shares during the period. Marcum Wealth LLC’s holdings in Intel were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Bancorp Inc ME raised its stake in Intel by 36.7% in the 2nd quarter. First Bancorp Inc ME now owns 8,420 shares of the chip maker’s stock worth $315,000 after acquiring an additional 2,260 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Intel by 24.3% in the second quarter. Orion Portfolio Solutions LLC now owns 67,894 shares of the chip maker’s stock worth $2,540,000 after purchasing an additional 13,282 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in shares of Intel by 829.6% during the second quarter. Pittenger & Anderson Inc. now owns 68,524 shares of the chip maker’s stock worth $2,563,000 after purchasing an additional 61,153 shares during the period. Steigerwald Gordon & Koch Inc. boosted its position in Intel by 35.7% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 16,659 shares of the chip maker’s stock valued at $623,000 after buying an additional 4,384 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. increased its holdings in Intel by 5.2% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 86,641 shares of the chip maker’s stock worth $3,241,000 after buying an additional 4,246 shares during the period. 61.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 14,800 shares of Intel stock in a transaction that occurred on Wednesday, August 24th. The shares were purchased at an average cost of $33.86 per share, for a total transaction of $501,128.00. Following the acquisition, the chief executive officer now owns 77,216 shares in the company, valued at $2,614,533.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on INTC shares. Barclays decreased their price objective on shares of Intel from $40.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday, July 29th. Bank of America decreased their price objective on Intel from $47.00 to $39.00 and set an “underperform” rating for the company in a report on Wednesday, June 29th. Tigress Financial reaffirmed a “buy” rating and set a $72.00 target price on shares of Intel in a report on Friday, June 3rd. Citigroup decreased their price target on Intel from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, June 6th. Finally, Morgan Stanley decreased their target price on shares of Intel from $46.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, July 29th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.96.

Intel Stock Down 1.4 %

Shares of NASDAQ:INTC opened at $28.07 on Friday. Intel Co. has a 52-week low of $28.04 and a 52-week high of $56.28. The company has a quick ratio of 1.41, a current ratio of 1.86 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $34.34 and a two-hundred day moving average of $40.39. The stock has a market cap of $115.26 billion, a P/E ratio of 6.01, a PEG ratio of 1.68 and a beta of 0.65.

Intel (NASDAQ:INTCGet Rating) last issued its earnings results on Thursday, July 28th. The chip maker reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.40). Intel had a return on equity of 16.65% and a net margin of 26.03%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $17.93 billion. During the same period last year, the firm earned $1.28 earnings per share. Intel’s revenue for the quarter was down 17.3% on a year-over-year basis. On average, research analysts expect that Intel Co. will post 2.25 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.365 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.46 annualized dividend and a yield of 5.20%. Intel’s dividend payout ratio (DPR) is 31.26%.

Intel Company Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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