Coastline Trust Co Has $305,000 Position in Intel Co. (NASDAQ:INTC)

Coastline Trust Co reduced its holdings in Intel Co. (NASDAQ:INTC) by 5.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,852 shares of the chip maker’s stock after selling 530 shares during the quarter. Coastline Trust Co’s holdings in Intel were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC bought a new stake in shares of Intel during the 4th quarter worth about $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth about $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the 1st quarter worth about $27,000. Signature Resources Capital Management LLC acquired a new stake in Intel in the 4th quarter worth about $37,000. Finally, Bare Financial Services Inc acquired a new stake in Intel in the 4th quarter worth about $39,000. Institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTC. Citigroup dropped their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Sanford C. Bernstein dropped their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. UBS Group dropped their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price objective on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.04.

Intel Trading Down 1.4 %

Shares of INTC traded down $0.27 during trading hours on Monday, hitting $19.44. 26,734,457 shares of the stock were exchanged, compared to its average volume of 51,666,828. Intel Co. has a fifty-two week low of $18.84 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The business has a 50-day moving average of $30.28 and a 200-day moving average of $35.71. The firm has a market capitalization of $82.76 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 1.82% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts expect that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is 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.