Columbia Asset Management Sells 5,690 Shares of Intel Co. (NASDAQ:INTC)

Columbia Asset Management lessened its position in shares of Intel Co. (NASDAQ:INTC) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,304 shares of the chip maker’s stock after selling 5,690 shares during the period. Columbia Asset Management’s holdings in Intel were worth $3,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. raised its stake in Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after purchasing an additional 247 shares in the last quarter. Enterprise Financial Services Corp lifted its holdings in shares of Intel by 2.2% during the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after acquiring an additional 251 shares during the last quarter. Summit Financial Strategies Inc. grew its position in Intel by 3.7% in the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after acquiring an additional 265 shares in the last quarter. Cape Investment Advisory Inc. raised its position in Intel by 5.5% during the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after purchasing an additional 270 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its stake in Intel by 0.6% during the fourth quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INTC shares. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Susquehanna lowered their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 price objective on the stock. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.04.

Intel Price Performance

INTC opened at $19.40 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market cap of $82.59 billion, a price-to-earnings ratio of 20.21 and a beta of 1.05. The stock has a fifty day simple moving average of $26.41 and a two-hundred day simple moving average of $32.76. Intel Co. has a 12-month low of $18.84 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Research analysts predict that Intel Co. will post -0.46 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.58%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) 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 acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

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.