West Oak Capital LLC Trims Stake in Intel Co. (NASDAQ:INTC)

West Oak Capital LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 94.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,145 shares of the chip maker’s stock after selling 37,259 shares during the period. West Oak Capital LLC’s holdings in Intel were worth $50,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter valued at $25,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the second quarter worth $27,000. Spartan Fund Management Inc. purchased a new position in Intel in the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel in the second quarter worth $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on INTC shares. Northland Securities cut their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Barclays cut their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Cantor Fitzgerald cut their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, UBS Group lowered their price target 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 assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $31.92.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost 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 $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Intel Stock Up 1.5 %

Shares of Intel stock opened at $22.77 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’s fifty day simple moving average is $21.40 and its two-hundred day simple moving average is $28.14. The company has a market cap of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last issued 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 net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

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