Intel Co. (NASDAQ:INTC) Shares Sold by Searle & CO.

Searle & CO. lessened its position in Intel Co. (NASDAQ:INTC) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,422 shares of the chip maker’s stock after selling 550 shares during the quarter. Searle & CO.’s holdings in Intel were worth $479,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Guidance Capital Inc. purchased a new stake in shares of Intel during the third quarter worth $486,000. Altus Wealth Group LLC raised its position in shares of Intel by 9.7% in the third quarter. Altus Wealth Group LLC now owns 29,447 shares of the chip maker’s stock valued at $691,000 after buying an additional 2,605 shares during the last quarter. Global X Japan Co. Ltd. raised its position in shares of Intel by 32.6% in the third quarter. Global X Japan Co. Ltd. now owns 227,442 shares of the chip maker’s stock valued at $5,336,000 after buying an additional 55,960 shares during the last quarter. Weaver Capital Management LLC acquired a new stake in shares of Intel in the third quarter valued at about $709,000. Finally, Tempus Wealth Planning LLC raised its position in shares of Intel by 289.0% in the third quarter. Tempus Wealth Planning LLC now owns 40,874 shares of the chip maker’s stock valued at $959,000 after buying an additional 30,366 shares during 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 brokerages have recently commented on INTC. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Cantor Fitzgerald dropped their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Roth Mkm dropped their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.92.

Intel Stock Performance

Shares of INTC traded down $0.23 during mid-day trading on Wednesday, reaching $22.17. 11,044,115 shares of the company’s stock were exchanged, compared to its average volume of 58,464,164. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market capitalization of $94.38 billion, a PE ratio of 23.17 and a beta of 1.03. The business’s fifty day simple moving average is $21.51 and its 200-day simple moving average is $27.71. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last announced 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). The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. On average, equities research analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.26%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

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.