Intel Co. (NASDAQ:INTC) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. decreased its holdings in Intel Co. (NASDAQ:INTC) by 3.4% in the second quarter, HoldingsChannel.com reports. The firm owned 36,548 shares of the chip maker’s stock after selling 1,302 shares during the quarter. Harbour Investments Inc.’s holdings in Intel were worth $1,132,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INTC. Vanguard Group Inc. raised its position 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 worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors raised its holdings in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after acquiring an additional 475,636 shares in the last quarter. Norges Bank acquired a new stake in shares of Intel in the fourth quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INTC. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald dropped their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Susquehanna lowered their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America cut Intel from a “neutral” rating to an “underperform” rating and cut their price target for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Six equities research 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’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $32.04.

Intel Stock Down 1.8 %

Shares of Intel stock traded down $0.37 during trading hours on Wednesday, hitting $19.70. The company had a trading volume of 27,400,796 shares, compared to its average volume of 52,671,512. The company’s 50-day moving average is $27.85 and its two-hundred day moving average is $33.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a twelve month low of $18.84 and a twelve month high of $51.28. The company has a market cap of $83.86 billion, a P/E ratio of 20.52, a price-to-earnings-growth 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 EPS 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 period last year, the firm earned ($0.05) EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.54%. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Company 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.