CNB Bank Buys 1,327 Shares of Intel Co. (NASDAQ:INTC)

CNB Bank lifted its holdings in Intel Co. (NASDAQ:INTC) by 29.4% in the third quarter, HoldingsChannel.com reports. The fund owned 5,841 shares of the chip maker’s stock after buying an additional 1,327 shares during the quarter. CNB Bank’s holdings in Intel were worth $137,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INTC. AdvisorNet Financial Inc lifted its holdings in shares of Intel by 2.1% in the first quarter. AdvisorNet Financial Inc now owns 40,154 shares of the chip maker’s stock worth $1,774,000 after buying an additional 838 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Intel in the first quarter worth $4,442,000. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Intel by 9.4% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 15,921 shares of the chip maker’s stock worth $703,000 after buying an additional 1,363 shares in the last quarter. Charles Schwab Trust Co lifted its holdings in shares of Intel by 7.6% in the first quarter. Charles Schwab Trust Co now owns 7,947 shares of the chip maker’s stock worth $351,000 after buying an additional 563 shares in the last quarter. Finally, Jacobs & Co. CA lifted its holdings in shares of Intel by 2.5% in the first quarter. Jacobs & Co. CA now owns 301,342 shares of the chip maker’s stock worth $13,310,000 after buying an additional 7,423 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on INTC shares. Roth Mkm decreased their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald decreased their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.92.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Stock Up 1.5 %

Shares of Intel stock opened at $22.77 on Monday. 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 1 year low of $18.51 and a 1 year high of $51.28. The firm’s 50-day moving average is $21.40 and its two-hundred day moving average is $27.94. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its 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 for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

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