Intel Co. (NASDAQ:INTC) Shares Sold by Guardian Investment Management

Guardian Investment Management trimmed its position in Intel Co. (NASDAQ:INTC) by 59.7% in the third quarter, HoldingsChannel.com reports. The firm owned 66,340 shares of the chip maker’s stock after selling 98,293 shares during the quarter. Intel comprises approximately 1.2% of Guardian Investment Management’s investment portfolio, making the stock its 25th biggest holding. Guardian Investment Management’s holdings in Intel were worth $1,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Adirondack Trust Co. increased its stake in shares of Intel by 0.5% in the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock worth $2,287,000 after acquiring an additional 278 shares during the last quarter. Abacus Wealth Partners LLC increased its stake in shares of Intel by 6.7% in the first quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after acquiring an additional 286 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of Intel by 1.8% in the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after acquiring an additional 299 shares during the last quarter. VERITY Wealth Advisors increased its stake in shares of Intel by 3.8% in the first quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock worth $373,000 after acquiring an additional 312 shares during the last quarter. Finally, Mechanics Bank Trust Department increased its stake in shares of Intel by 0.8% in the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after acquiring an additional 320 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INTC. Truist Financial dropped their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Barclays lowered their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.96.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.34 during mid-day trading on Friday, hitting $23.56. The company had a trading volume of 43,585,252 shares, compared to its average volume of 59,055,309. 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 business’s 50-day simple moving average is $21.12 and its 200-day simple moving average is $28.78. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The firm has a market cap of $100.29 billion, a P/E ratio of 24.54 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.