Court Place Advisors LLC Sells 2,391 Shares of Intel Co. (NASDAQ:INTC)

Court Place Advisors LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 78,065 shares of the chip maker’s stock after selling 2,391 shares during the quarter. Court Place Advisors LLC’s holdings in Intel were worth $1,831,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new position in shares of Intel in the 2nd quarter valued at about $25,000. Tributary Capital Management LLC purchased a new stake in Intel during the 1st quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel during the second quarter worth about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Barclays cut their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, UBS Group decreased their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.92.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

INTC stock traded up $0.68 during trading on Friday, hitting $23.02. The company had a trading volume of 11,811,448 shares, compared to its average volume of 58,320,164. The company has a fifty day moving average price of $21.55 and a two-hundred day moving average price of $27.67. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a market cap of $98.00 billion, a P/E ratio of 23.27 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 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 analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.