Graypoint LLC Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Graypoint LLC lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,915 shares of the chip maker’s stock after selling 1,872 shares during the quarter. Graypoint LLC’s holdings in Intel were worth $957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in INTC. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the 4th quarter worth $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the fourth quarter worth about $27,000. Tributary Capital Management LLC bought a new position in shares of Intel in the first quarter worth about $27,000. Financial Connections Group Inc. purchased a new position in shares of Intel during the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel during the 2nd quarter valued at approximately $33,000. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on INTC shares. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday, August 2nd. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 price objective for the company. Northland Securities decreased their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald dropped their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.04.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased 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 approximately $765,576. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Price Performance

Shares of NASDAQ:INTC traded up $1.91 during trading on Friday, reaching $22.04. 177,785,378 shares of the company’s stock traded hands, compared to its average volume of 86,373,080. 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 Co. has a fifty-two week low of $18.84 and a fifty-two week high of $51.28. The company has a 50-day simple moving average of $27.24 and a 200-day simple moving average of $33.34. The firm has a market cap of $94.24 billion, a PE ratio of 22.96 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly 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 company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. As a group, analysts predict that Intel Co. will post -0.46 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

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.