Carret Asset Management LLC Sells 3,574 Shares of Intel Co. (NASDAQ:INTC)

Carret Asset Management LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 93,183 shares of the chip maker’s stock after selling 3,574 shares during the quarter. Carret Asset Management LLC’s holdings in Intel were worth $2,186,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. America First Investment Advisors LLC bought a new stake in shares of Intel during the second quarter worth $25,000. Tributary Capital Management LLC acquired a new position in Intel in the 1st quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new position in Intel during the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter valued at about $32,000. 64.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on INTC. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Northland Securities reduced their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Wedbush lowered their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note 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 MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $31.15.

Intel Trading Up 1.5 %

Shares of INTC stock opened at $22.68 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a market capitalization of $96.98 billion, a PE ratio of 98.61 and a beta of 1.03. The firm has a 50 day moving average price of $21.62 and a two-hundred day moving average price of $27.45. 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 (NASDAQ:INTC) last released its quarterly 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 return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter 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 year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 217.40%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 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, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

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.