Chapin Davis Inc. Has $657,000 Stock Holdings in Intel Co. (NASDAQ:INTC)

Chapin Davis Inc. reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,210 shares of the chip maker’s stock after selling 742 shares during the quarter. Chapin Davis Inc.’s holdings in Intel were worth $657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $27,000. Burkett Financial Services LLC bought a new position in shares of Intel during the 4th quarter worth approximately $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the 1st quarter worth approximately $27,000. Triad Wealth Partners LLC purchased a new position in shares of Intel in the 2nd quarter worth approximately $33,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Intel during the first quarter valued at approximately $36,000. 64.53% of the stock is owned by institutional investors.

Intel Trading Up 0.9 %

INTC traded up $0.18 during trading on Friday, hitting $20.87. 48,582,663 shares of the stock traded hands, compared to its average volume of 52,228,957. The firm has a market capitalization of $88.84 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. Intel Co. has a 12-month low of $18.84 and a 12-month 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 firm has a 50-day moving average of $29.26 and a 200 day moving average of $34.85.

Intel (NASDAQ:INTC) last posted its 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 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 analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that Intel Co. will post 0.07 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.40%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTC. Morgan Stanley reduced their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Northland Securities dropped their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald decreased their price target 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. Finally, Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.04.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.