Intel Co. (NASDAQ:INTC) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,233 shares of the chip maker’s stock after selling 2,970 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Intel were worth $1,507,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake 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 valued at $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors grew its holdings in Intel by 16.0% during the first 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. Primecap Management Co. CA raised its position in Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after acquiring an additional 487,191 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INTC. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Cantor Fitzgerald dropped their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.80.

Intel Price Performance

Intel stock opened at $22.92 on Tuesday. 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 has a market cap of $97.57 billion, a P/E ratio of 23.88 and a beta of 1.03. The company has a 50-day moving average price of $21.65 and a 200 day moving average price of $27.28. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly 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 firm 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 firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Sell-side analysts anticipate 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. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.18%. 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.