Intel Co. (NASDAQ:INTC) Shares Sold by Harbor Island Capital LLC

Harbor Island Capital LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 48.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,118 shares of the chip maker’s stock after selling 121,788 shares during the quarter. Intel makes up approximately 1.4% of Harbor Island Capital LLC’s holdings, making the stock its 15th biggest holding. Harbor Island Capital LLC’s holdings in Intel were worth $3,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INTC. Capital International Investors lifted its position in shares of Intel by 16.0% in the 1st 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 in the last quarter. Van ECK Associates Corp increased its stake in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its stake in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Intel during the 2nd quarter worth $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 1.4 %

Shares of INTC stock traded up $0.32 during trading on Friday, reaching $22.76. The company’s stock had a trading volume of 6,582,113 shares, compared to its average volume of 58,667,715. The business has a fifty day moving average price of $21.34 and a 200-day moving average price of $28.29. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $96.89 billion, a price-to-earnings ratio of 23.38 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company posted ($0.05) earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INTC shares. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Finally, Northland Securities decreased their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.92.

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.