Intel Co. (NASDAQ:INTC) Position Reduced by Abbot Financial Management Inc.

Abbot Financial Management Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,966 shares of the chip maker’s stock after selling 890 shares during the quarter. Abbot Financial Management Inc.’s holdings in Intel were worth $1,145,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. America First Investment Advisors LLC bought a new stake in Intel during the second quarter worth approximately $25,000. Frazier Financial Advisors LLC acquired a new position in shares of Intel in the fourth quarter worth about $27,000. Burkett Financial Services LLC purchased a new position in shares of Intel in the fourth quarter worth approximately $27,000. Tributary Capital Management LLC acquired a new stake in shares of Intel during the first quarter valued at approximately $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Intel in the 2nd quarter valued at approximately $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

NASDAQ INTC opened at $20.91 on Tuesday. The stock has a 50-day simple moving average of $24.71 and a 200 day simple moving average of $31.45. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The stock has a market capitalization of $89.41 billion, a PE ratio of 21.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 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 during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. Research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.39%. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of several research analyst reports. Cantor Fitzgerald lowered their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays dropped their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six equities 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. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $32.04.

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.