Perkins Coie Trust Co Lowers Position in Intel Co. (NASDAQ:INTC)

Perkins Coie Trust Co cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 30.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,028 shares of the chip maker’s stock after selling 32,926 shares during the quarter. Perkins Coie Trust Co’s holdings in Intel were worth $1,736,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in INTC. Price T Rowe Associates Inc. MD increased its position in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Capital International Investors grew its stake in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Van ECK Associates Corp grew its stake in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares during the period. Davis Selected Advisers grew its stake in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the period. Finally, Caxton Associates LP bought a new position in shares of Intel during the 2nd quarter worth $162,592,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. Wedbush cut their target price on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, August 2nd. Truist Financial decreased their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Six investment 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. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $31.96.

Intel Stock Up 0.0 %

Intel stock traded up $0.01 during mid-day trading on Wednesday, hitting $23.33. The company had a trading volume of 5,635,837 shares, compared to its average volume of 59,007,434. 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 stock’s 50 day moving average price is $21.34 and its two-hundred day moving average price is $29.08. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a market capitalization of $99.32 billion, a PE ratio of 24.29 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted 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 return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed 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 was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.14%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 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, with a total value 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 approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by insiders.

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.