SkyOak Wealth LLC Buys 5,849 Shares of Intel Co. (NASDAQ:INTC)

SkyOak Wealth LLC grew its position in shares of Intel Co. (NASDAQ:INTC) by 65.7% in the second quarter, HoldingsChannel reports. The firm owned 14,753 shares of the chip maker’s stock after buying an additional 5,849 shares during the quarter. SkyOak Wealth LLC’s holdings in Intel were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INTC. America First Investment Advisors LLC bought a new position in shares of Intel during the 2nd quarter valued at approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel during the 4th quarter valued at about $27,000. Burkett Financial Services LLC bought a new position in shares of Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter worth about $27,000. Finally, Spartan Fund Management Inc. bought a new stake in Intel during the second quarter worth approximately $31,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the subject of a number of analyst reports. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Morgan Stanley dropped their target price 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. Northland Securities reduced their price target on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, UBS Group reduced their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Stock Performance

NASDAQ INTC opened at $21.47 on Wednesday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a market capitalization of $91.40 billion, a P/E ratio of 22.36 and a beta of 1.03. The stock’s fifty day moving average is $24.45 and its two-hundred day moving average is $31.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 firm 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%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

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.