ST Germain D J Co. Inc. Sells 15,472 Shares of Intel Co. (NASDAQ:INTC)

ST Germain D J Co. Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,904 shares of the chip maker’s stock after selling 15,472 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Intel were worth $4,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. Capital International Investors raised its holdings in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp raised 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 in the last quarter. Davis Selected Advisers raised 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 in the last quarter. Caxton Associates LP acquired a new stake in shares of Intel in the 2nd quarter valued at approximately $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after buying an additional 4,272,395 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INTC. Susquehanna cut their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Roth Mkm reduced their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four 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 price target of $31.92.

Intel Price Performance

Shares of NASDAQ:INTC traded up $0.33 during midday trading on Friday, hitting $22.77. The stock had a trading volume of 39,971,695 shares, compared to its average volume of 58,832,660. The company’s 50-day moving average price is $21.40 and its 200-day moving average price is $28.14. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. 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 capitalization of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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 firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

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