Johnson Bixby & Associates LLC Increases Position in Intel Co. (NASDAQ:INTC)

by · The Markets Daily

Johnson Bixby & Associates LLC boosted its position in Intel Co. (NASDAQ:INTC – Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,042 shares of the chip maker’s stock after buying an additional 730 shares during the quarter. Johnson Bixby & Associates LLC’s holdings in Intel were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Adirondack Trust Co. increased its holdings in Intel by 0.5% in the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock worth $2,287,000 after purchasing an additional 278 shares in the last quarter. Abacus Wealth Partners LLC increased its position in Intel by 6.7% in the first quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after buying an additional 286 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Intel by 1.8% in the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock valued at $734,000 after purchasing an additional 299 shares in the last quarter. VERITY Wealth Advisors increased its stake in Intel by 3.8% in the 1st quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock worth $373,000 after acquiring an additional 312 shares during the last quarter. Finally, Mechanics Bank Trust Department boosted its holdings in shares of Intel by 0.8% in the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after purchasing an additional 320 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group lowered their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday, August 2nd. Truist Financial decreased their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.96.

View Our Latest Analysis on Intel

Intel Stock Performance

INTC traded up $0.34 during trading hours on Friday, reaching $23.56. The company’s stock had a trading volume of 43,585,252 shares, compared to its average volume of 59,055,309. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company’s 50-day moving average is $21.12 and its 200-day moving average is $28.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm has a market cap of $100.29 billion, a PE ratio of 24.54 and a beta of 1.03.

Intel (NASDAQ:INTC – Get Free Report) last released 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). 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 revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. On average, equities analysts forecast 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 paid 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 yield of 2.12%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.04% of the company’s stock.

About Intel

(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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