NORTHSTAR ASSET MANAGEMENT Co LLC Sells 2,300 Shares of Intel Co. (NASDAQ:INTC)

NORTHSTAR ASSET MANAGEMENT Co LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 18.3% in the second quarter, Holdings Channel reports. The firm owned 10,262 shares of the chip maker’s stock after selling 2,300 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Intel were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC bought a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in Intel during the first quarter worth $27,000. Signature Resources Capital Management LLC acquired a new position in Intel during the fourth quarter worth $37,000. Finally, Bare Financial Services Inc acquired a new position in Intel during the fourth quarter worth $39,000. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Wedbush reduced their target price on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, April 26th. UBS Group cut their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Northland Securities cut their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Up 0.9 %

Shares of NASDAQ:INTC traded up $0.18 during trading on Friday, hitting $20.87. 48,582,663 shares of the company were exchanged, compared to its average volume of 52,228,957. The stock has a market cap of $88.84 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 17.38 and a beta of 1.05. Intel Co. has a fifty-two week low of $18.84 and a fifty-two week high of $51.28. The firm has a fifty day moving average price of $29.26 and a two-hundred day moving average price of $34.91. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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). The company had revenue of $12.80 billion for 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 firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, research analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.40%. Intel’s dividend payout ratio is currently 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.