Intel Co. (NASDAQ:INTC) Shares Sold by Willis Investment Counsel

Willis Investment Counsel lowered its position in shares of Intel Co. (NASDAQ:INTC) by 63.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 298,465 shares of the chip maker’s stock after selling 525,996 shares during the quarter. Willis Investment Counsel’s holdings in Intel were worth $7,002,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new stake in shares of Intel in the first quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Intel in the 1st quarter valued at about $36,000. America First Investment Advisors LLC acquired a new position in shares of Intel during the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the 2nd quarter valued at about $27,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Intel during the 4th quarter worth about $46,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC opened at $23.56 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm has a fifty day moving average of $21.12 and a 200-day moving average of $28.67. The company has a market cap of $100.29 billion, a price-to-earnings ratio of 24.54 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

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

Intel Dividend Announcement

The business also recently announced 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 2.12%. Intel’s dividend payout ratio is presently 52.08%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. Roth Mkm reduced their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, UBS Group decreased their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company 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 given a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $31.96.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is 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.