Intel Co. (NASDAQ:INTC) Holdings Lowered by Orca Investment Management LLC

Orca Investment Management LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,155 shares of the chip maker’s stock after selling 1,861 shares during the quarter. Intel makes up 1.7% of Orca Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Orca Investment Management LLC’s holdings in Intel were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DDFG Inc acquired a new stake in shares of Intel in the fourth quarter worth $205,000. Gryphon Financial Partners LLC lifted its stake in Intel by 8.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after acquiring an additional 1,601 shares in the last quarter. Calton & Associates Inc. purchased a new position in Intel during the 4th quarter valued at about $249,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Intel by 3.4% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 77,151 shares of the chip maker’s stock valued at $3,873,000 after purchasing an additional 2,532 shares during the period. Finally, AGF Management Ltd. lifted its position in shares of Intel by 16.3% in the fourth quarter. AGF Management Ltd. now owns 15,114 shares of the chip maker’s stock worth $759,000 after purchasing an additional 2,114 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Intel in a research report on Monday, May 13th. They issued a “hold” rating and a $34.00 target price for the company. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Barclays lowered their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. TD Cowen cut their price target on Intel from $35.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho cut Intel from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred 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 purchase, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Intel Stock Down 2.6 %

INTC opened at $18.89 on Friday. The business has a 50 day moving average of $26.17 and a 200-day moving average of $32.51. The stock has a market capitalization of $80.41 billion, a price-to-earnings ratio of 19.68 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 1-year low of $18.64 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company earned ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intel Co. will post -0.46 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.65%. Intel’s dividend payout ratio (DPR) 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.