Intel Co. (NASDAQ:INTC) Shares Sold by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 405,106 shares of the chip maker’s stock after selling 33,082 shares during the quarter. Intel comprises approximately 0.9% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 12th biggest holding. Armstrong Henry H Associates Inc.’s holdings in Intel were worth $9,504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INTC. Vanguard Group Inc. lifted its holdings in shares of Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the period. Capital International Investors boosted its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insiders Place Their Bets

In related 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, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. Barclays cut their price target 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. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a research report on Monday, September 16th. Six 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.04.

Intel Stock Performance

Shares of NASDAQ INTC opened at $22.39 on Thursday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a market cap of $95.31 billion, a P/E ratio of 23.32 and a beta of 1.03. The stock has a fifty day moving average price of $21.99 and a two-hundred day moving average price of $29.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business earned ($0.05) EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 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.