Trust Point Inc. Has $606,000 Stock Position in Intel Co. (NASDAQ:INTC)

Trust Point Inc. lessened its position in shares of Intel Co. (NASDAQ:INTC) by 4.2% in the third quarter, HoldingsChannel.com reports. The firm owned 25,841 shares of the chip maker’s stock after selling 1,125 shares during the quarter. Trust Point Inc.’s holdings in Intel were worth $606,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INTC. Tributary Capital Management LLC acquired a new position in Intel in the first quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Intel during the first quarter worth approximately $36,000. America First Investment Advisors LLC bought a new stake in Intel in the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter valued at approximately $27,000. Finally, Spartan Fund Management Inc. bought a new position in shares of Intel during the 2nd quarter worth approximately $31,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Intel stock opened at $22.77 on Friday. The business has a fifty day moving average price of $21.40 and a 200-day moving average price of $28.14. The firm has a market capitalization of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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 firm had revenue of $12.80 billion during 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 company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. As a group, equities research analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Benchmark restated a “hold” rating on shares of Intel in a report on Monday, September 23rd. Six equities research 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. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $31.92.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.

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.