First National Bank & Trust Co. of Newtown Sells 680 Shares of Intel Co. (NASDAQ:INTC)

First National Bank & Trust Co. of Newtown trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,255 shares of the chip maker’s stock after selling 680 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Intel were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Benin Management CORP increased its holdings in Intel by 7.7% during the 2nd quarter. Benin Management CORP now owns 8,206 shares of the chip maker’s stock valued at $254,000 after purchasing an additional 589 shares during the period. Inlet Private Wealth LLC increased its stake in shares of Intel by 36.4% during the second quarter. Inlet Private Wealth LLC now owns 7,744 shares of the chip maker’s stock valued at $240,000 after buying an additional 2,066 shares during the period. American National Bank raised its holdings in shares of Intel by 18.7% during the second quarter. American National Bank now owns 18,701 shares of the chip maker’s stock valued at $579,000 after acquiring an additional 2,951 shares in the last quarter. NewSquare Capital LLC lifted its stake in Intel by 8.6% in the second quarter. NewSquare Capital LLC now owns 100,401 shares of the chip maker’s stock worth $3,072,000 after acquiring an additional 7,965 shares during the period. Finally, KG&L Capital Management LLC boosted its holdings in Intel by 179.2% in the second quarter. KG&L Capital Management LLC now owns 38,464 shares of the chip maker’s stock valued at $1,197,000 after acquiring an additional 24,688 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 of the company’s stock, valued at $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on INTC. Wells Fargo & Company cut their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Finally, The Goldman Sachs Group reduced their price objective on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

Shares of INTC stock traded down $1.31 during mid-day trading on Thursday, hitting $20.10. The company had a trading volume of 81,280,543 shares, compared to its average volume of 52,719,859. The company has a market capitalization of $85.57 billion, a P/E ratio of 20.99, a P/E/G ratio of 17.38 and a beta of 1.05. The stock’s 50 day moving average price is $28.69 and its 200-day moving average price is $34.45. Intel Co. has a 52-week low of $18.84 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC) last posted 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 return on equity of 1.82% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Intel’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts forecast that Intel Co. will post 0.07 earnings per share for the current year.

Intel Dividend Announcement

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 dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.49%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.