Addenda Capital Inc. Grows Position in Intel Co. (NASDAQ:INTC)

Addenda Capital Inc. lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 27.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 208,164 shares of the chip maker’s stock after purchasing an additional 44,923 shares during the quarter. Addenda Capital Inc.’s holdings in Intel were worth $6,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC lifted its stake in Intel by 612.3% during the 2nd quarter. ORG Partners LLC now owns 23,982 shares of the chip maker’s stock worth $740,000 after acquiring an additional 20,615 shares in the last quarter. IVC Wealth Advisors LLC lifted its stake in Intel by 11.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 17,317 shares of the chip maker’s stock worth $536,000 after acquiring an additional 1,754 shares in the last quarter. Falcon Wealth Planning lifted its stake in Intel by 19.2% during the 2nd quarter. Falcon Wealth Planning now owns 9,720 shares of the chip maker’s stock worth $301,000 after acquiring an additional 1,563 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Intel by 0.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 70,949 shares of the chip maker’s stock worth $2,197,000 after acquiring an additional 618 shares in the last quarter. Finally, Community Bank of Raymore raised its position in Intel by 89.9% in the 2nd quarter. Community Bank of Raymore now owns 9,496 shares of the chip maker’s stock valued at $294,000 after purchasing an additional 4,496 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INTC shares. Jefferies Financial Group started coverage on Intel in a research report on Monday, May 13th. They issued a “hold” rating and a $34.00 price target on the stock. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. UBS Group cut their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-three 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 price target of $32.04.

Insider Activity

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 purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Down 2.7 %

Shares of INTC stock traded down $0.55 during trading hours on Wednesday, reaching $19.92. The company had a trading volume of 56,680,578 shares, compared to its average volume of 52,040,426. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a twelve month low of $18.84 and a twelve month high of $51.28. The company has a market capitalization of $84.80 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The stock’s fifty day simple moving average is $29.87 and its 200 day simple moving average is $35.33.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the business posted ($0.05) EPS. Intel’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.51%. Intel’s dividend payout ratio (DPR) is currently 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.