Stonebridge Capital Management Inc. Reduces Stake in Intel Co. (NASDAQ:INTC)

Stonebridge Capital Management Inc. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 153,886 shares of the chip maker’s stock after selling 3,500 shares during the period. Intel accounts for 1.4% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 23rd largest position. Stonebridge Capital Management Inc.’s holdings in Intel were worth $3,610,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Waterloo Capital L.P. bought a new stake in shares of Intel during the 4th quarter valued at about $251,000. Westwood Holdings Group Inc. boosted its position in shares of Intel by 2.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 74,291 shares of the chip maker’s stock valued at $3,733,000 after acquiring an additional 1,878 shares during the last quarter. Regal Investment Advisors LLC boosted its position in shares of Intel by 2.7% during the 4th quarter. Regal Investment Advisors LLC now owns 19,808 shares of the chip maker’s stock valued at $995,000 after acquiring an additional 521 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of Intel by 3.5% during the 4th quarter. Cresset Asset Management LLC now owns 437,375 shares of the chip maker’s stock valued at $21,978,000 after acquiring an additional 14,724 shares during the last quarter. Finally, Mark Asset Management LP bought a new stake in shares of Intel during the 4th quarter valued at about $3,015,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC opened at $22.38 on Tuesday. 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 Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock has a market capitalization of $95.27 billion, a PE ratio of 23.31 and a beta of 1.03. The stock’s 50 day moving average price is $21.64 and its 200-day moving average price is $29.35.

Intel (NASDAQ:INTC) last released its quarterly 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 quarter in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.23%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity at Intel

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTC. Cantor Fitzgerald dropped their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Roth Mkm decreased their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Northland Securities decreased their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.96.

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.