Cornerstone Wealth Management LLC Buys 3,017 Shares of Intel Co. (NASDAQ:INTC)

Cornerstone Wealth Management LLC raised its stake in Intel Co. (NASDAQ:INTC) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,561 shares of the chip maker’s stock after buying an additional 3,017 shares during the period. Cornerstone Wealth Management LLC’s holdings in Intel were worth $1,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INTC. Slow Capital Inc. boosted its position in Intel by 0.9% during the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in Intel by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after purchasing an additional 2,915 shares during the period. Brookstone Capital Management increased its holdings in Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Callan Capital LLC lifted its stake in Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after buying an additional 1,474 shares during the period. Finally, Prosperity Wealth Management Inc. bought a new position in shares of Intel during the 4th quarter worth approximately $293,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on INTC. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Barclays reduced their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Wedbush cut their target price on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Cantor Fitzgerald decreased their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six equities research 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 company. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $32.04.

Intel Price Performance

NASDAQ:INTC traded up $0.82 during trading hours on Thursday, hitting $20.74. The stock had a trading volume of 50,653,723 shares, compared to its average volume of 52,035,402. The company has a 50 day simple moving average of $29.65 and a two-hundred day simple moving average of $35.23. The firm has a market capitalization of $88.29 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 17.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a one year low of $18.84 and a one year high of $51.28.

Intel (NASDAQ:INTC) 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). Intel had a net margin of 1.77% and a return on equity of 1.82%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the business earned ($0.05) EPS. The business’s revenue was down .8% on a year-over-year basis. Research analysts forecast that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.41%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Profile

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.