Allegheny Financial Group LTD Buys 1,745 Shares of Intel Co. (NASDAQ:INTC)

Allegheny Financial Group LTD lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 22.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,542 shares of the chip maker’s stock after purchasing an additional 1,745 shares during the period. Allegheny Financial Group LTD’s holdings in Intel were worth $295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Burkett Financial Services LLC bought a new position in shares of Intel during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth about $27,000. Tributary Capital Management LLC acquired a new position in Intel in the 1st quarter valued at about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel during the first quarter worth approximately $36,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Intel during the fourth quarter worth approximately $46,000. Institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel 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 transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on INTC shares. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. TD Cowen cut their price objective on shares of Intel from $35.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a research report on Thursday, May 16th. Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price target on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Stock Performance

Shares of Intel stock opened at $20.10 on Wednesday. The business has a 50-day moving average price of $26.86 and a two-hundred day moving average price of $32.95. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company has a market cap of $85.57 billion, a P/E ratio of 20.94 and a beta of 1.05. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. As a group, analysts anticipate that Intel Co. will post -0.46 EPS for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

About Intel

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.