Intel Co. (NASDAQ:INTC) Shares Sold by Exeter Financial LLC

Exeter Financial LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 42.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,398 shares of the chip maker’s stock after selling 9,251 shares during the quarter. Exeter Financial LLC’s holdings in Intel were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. Price T Rowe Associates Inc. MD raised its stake in shares of Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Capital International Investors increased its position in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers boosted its stake in shares of Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Intel during the second quarter valued at $162,592,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Down 0.9 %

Shares of INTC stock opened at $22.38 on Tuesday. The stock has a 50-day simple moving average of $21.64 and a 200 day simple moving average of $29.35. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The stock has a market capitalization of $95.27 billion, a P/E ratio of 23.31 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on 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 trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTC. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Intel in a report on Monday, September 23rd. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.