Ballentine Partners LLC Sells 22,895 Shares of Intel Co. (NASDAQ:INTC)

Ballentine Partners LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 38.0% in the third quarter, HoldingsChannel.com reports. The firm owned 37,372 shares of the chip maker’s stock after selling 22,895 shares during the quarter. Ballentine Partners LLC’s holdings in Intel were worth $877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. Vicus Capital raised its position in shares of Intel by 39.5% in the 1st quarter. Vicus Capital now owns 13,674 shares of the chip maker’s stock valued at $604,000 after buying an additional 3,872 shares in the last quarter. Founders Financial Securities LLC raised its position in shares of Intel by 9.5% in the 1st quarter. Founders Financial Securities LLC now owns 35,381 shares of the chip maker’s stock valued at $1,563,000 after buying an additional 3,079 shares in the last quarter. LVW Advisors LLC raised its position in shares of Intel by 32.6% in the 1st quarter. LVW Advisors LLC now owns 11,479 shares of the chip maker’s stock valued at $507,000 after buying an additional 2,823 shares in the last quarter. Compass Ion Advisors LLC increased its position in Intel by 1.7% during the 1st quarter. Compass Ion Advisors LLC now owns 33,486 shares of the chip maker’s stock worth $1,479,000 after purchasing an additional 555 shares in the last quarter. Finally, Oak Asset Management LLC increased its position in Intel by 0.4% during the 1st quarter. Oak Asset Management LLC now owns 134,058 shares of the chip maker’s stock worth $5,921,000 after purchasing an additional 513 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Up 1.5 %

NASDAQ:INTC opened at $22.68 on Friday. The firm has a market cap of $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm’s fifty day moving average is $21.62 and its 200-day moving average is $27.53. 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 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). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. Equities analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.20%. Intel’s payout ratio is 217.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INTC. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. Morgan Stanley lowered their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research 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. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $31.15.

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.