Weatherly Asset Management L. P. lessened its holdings in shares of Intel Co. (NASDAQ:INTC – Free Report) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,443 shares of the chip maker’s stock after selling 2,240 shares during the period. Weatherly Asset Management L. P.’s holdings in Intel were worth $1,314,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Intel in the fourth quarter valued at approximately $297,000. DDFG Inc bought a new position in Intel in the fourth quarter worth approximately $205,000. Cary Street Partners Asset Management LLC raised its stake in Intel by 3.8% in the fourth quarter. Cary Street Partners Asset Management LLC now owns 11,329 shares of the chip maker’s stock worth $569,000 after buying an additional 413 shares in the last quarter. Howe & Rusling Inc. raised its stake in Intel by 1.8% in the fourth quarter. Howe & Rusling Inc. now owns 29,402 shares of the chip maker’s stock worth $1,477,000 after buying an additional 531 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its stake in Intel by 0.6% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 68,431 shares of the chip maker’s stock worth $3,439,000 after buying an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.
Intel Price Performance
INTC stock traded up $1.91 during mid-day trading on Friday, reaching $22.04. The company’s stock had a trading volume of 177,785,378 shares, compared to its average volume of 86,373,080. The stock has a market cap of $94.24 billion, a PE ratio of 22.96 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 Co. has a fifty-two week low of $18.84 and a fifty-two week high of $51.28. The company’s 50 day moving average is $27.24 and its two-hundred day moving average is $33.41.
Intel Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.27%. Intel’s dividend payout ratio is currently 52.08%.
Analyst Ratings Changes
A number of equities analysts recently commented on INTC shares. Barclays reduced their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Roth Mkm lowered their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. TD Cowen lowered their price target on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Wedbush lowered their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $32.04.
Read Our Latest Stock Analysis on Intel
Insider Transactions at Intel
In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the 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 transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.
Intel 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.
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