Lazari Capital Management Inc. Sells 874 Shares of Intel Co. (NASDAQ:INTC)

Lazari Capital Management Inc. lessened its position in Intel Co. (NASDAQ:INTC) by 7.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,555 shares of the chip maker’s stock after selling 874 shares during the period. Lazari Capital Management Inc.’s holdings in Intel were worth $248,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. America First Investment Advisors LLC bought a new position in Intel during the 2nd quarter valued at $25,000. Tributary Capital Management LLC bought a new position in shares of Intel during the first quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new position in Intel during the second quarter worth about $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel in the 2nd quarter valued at about $32,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Intel stock opened at $22.40 on Wednesday. The business has a 50-day simple moving average of $21.51 and a 200 day simple moving average of $27.71. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The stock has a market cap of $95.36 billion, a price-to-earnings ratio of 23.33 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 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 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the company earned ($0.05) EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark reiterated a “hold” rating on shares of Intel in a report on Monday, September 23rd. Morgan Stanley cut their price target 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. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Cantor Fitzgerald lowered their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.92.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.04% of the company’s stock.

Intel Company 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.