Intel Co. (NASDAQ:INTC) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,950 shares of the chip maker’s stock after selling 10,595 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Intel were worth $3,494,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Adirondack Trust Co. increased its holdings in shares of Intel by 0.5% in the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after purchasing an additional 278 shares during the period. Abacus Wealth Partners LLC grew its holdings in shares of Intel by 6.7% during the first quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after buying an additional 286 shares in the last quarter. First Affirmative Financial Network boosted its holdings in shares of Intel by 1.8% during the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after purchasing an additional 299 shares during the last quarter. Mechanics Bank Trust Department boosted its stake in Intel by 0.8% in the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after buying an additional 320 shares during the last quarter. Finally, Guardian Capital Advisors LP grew its holdings in Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after purchasing an additional 328 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Northland Securities reduced their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays reduced their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, 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. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $31.96.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value 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 represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

Intel Stock Down 1.9 %

Shares of NASDAQ INTC traded down $0.43 during trading on Wednesday, hitting $22.23. The stock had a trading volume of 34,493,461 shares, compared to its average volume of 58,864,152. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a fifty day moving average of $21.24 and a two-hundred day moving average of $28.37. 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 $94.63 billion, a PE ratio of 23.00 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. As a group, equities research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.25%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

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.