Garrison Point Advisors LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

Garrison Point Advisors LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,238 shares of the chip maker’s stock after selling 1,352 shares during the period. Garrison Point Advisors LLC’s holdings in Intel were worth $545,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC acquired a new position in shares of Intel in the 2nd quarter valued at $25,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter worth about $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new position in Intel in the 2nd quarter worth about $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on INTC shares. Barclays cut their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Finally, TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.92.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Up 1.6 %

Shares of NASDAQ INTC opened at $22.34 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The business’s 50 day moving average is $21.55 and its two-hundred day moving average is $27.67. The firm has a market cap of $95.10 billion, a price-to-earnings ratio of 23.27 and a beta of 1.03. 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 announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. Research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.24%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.