First National Trust Co Sells 5,920 Shares of Intel Co. (NASDAQ:INTC)

First National Trust Co decreased its holdings in Intel Co. (NASDAQ:INTC) by 6.0% in the second quarter, Holdings Channel reports. The fund owned 92,715 shares of the chip maker’s stock after selling 5,920 shares during the quarter. First National Trust Co’s holdings in Intel were worth $2,871,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Frazier Financial Advisors LLC bought a new stake in Intel in the fourth quarter worth about $27,000. Burkett Financial Services LLC bought a new stake in Intel in the fourth quarter worth about $27,000. Tributary Capital Management LLC bought a new stake in Intel in the first quarter worth about $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the second quarter worth about $32,000. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INTC. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Cantor Fitzgerald reduced their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Intel Trading Down 3.3 %

NASDAQ:INTC opened at $19.43 on Thursday. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The firm has a fifty day simple moving average of $26.64 and a 200-day simple moving average of $32.85. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $82.71 billion, a P/E ratio of 20.24 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS 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 1.78% and a net margin of 1.77%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, equities research analysts anticipate that Intel Co. will post -0.46 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.57%. Intel’s dividend payout ratio is presently 52.08%.

Intel 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.