First Horizon Advisors Inc. Decreases Stake in Intel Co. (NASDAQ:INTC)

First Horizon Advisors Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,771 shares of the chip maker’s stock after selling 2,070 shares during the quarter. First Horizon Advisors Inc.’s holdings in Intel were worth $2,347,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter valued at $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in Intel in the first quarter valued at about $27,000. Triad Wealth Partners LLC acquired a new stake in shares of Intel during the second quarter valued at about $33,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Intel in the 1st quarter valued at approximately $36,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Shares of INTC traded down $0.44 during mid-day trading on Tuesday, reaching $21.08. 21,786,604 shares of the company’s stock were exchanged, compared to its average volume of 52,125,277. Intel Co. has a 52-week low of $18.84 and a 52-week high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The company has a 50-day simple moving average of $29.07 and a two-hundred day simple moving average of $34.70. The company has a market cap of $89.74 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last released 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). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. On average, sell-side analysts predict that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.37%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research reports. Morgan Stanley dropped their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Jefferies Financial Group began coverage on Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 target price on the stock. Roth Mkm lowered their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. UBS Group reduced their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.04.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

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.