Intel Co. (NASDAQ:INTC) Stock Position Trimmed by Thomasville National Bank

Thomasville National Bank cut its position in Intel Co. (NASDAQ:INTC) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,217 shares of the chip maker’s stock after selling 960 shares during the quarter. Thomasville National Bank’s holdings in Intel were worth $285,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Intel during the 4th quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD raised its position in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after buying an additional 31,575,084 shares in the last quarter. Capital International Investors raised its position in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after buying an additional 8,140,835 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after buying an additional 6,673,086 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of Intel stock traded down $0.84 during mid-day trading on Wednesday, reaching $18.99. 97,710,851 shares of the stock were exchanged, compared to its average volume of 51,365,828. The company has a market cap of $80.84 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $30.92 and a 200 day simple moving average of $36.32. Intel Co. has a fifty-two week low of $18.95 and a fifty-two 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 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 1.82% and a net margin of 1.77%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. On average, sell-side analysts predict that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on INTC shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Evercore ISI cut their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. Wedbush cut their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Five analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.92.

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.