Narwhal Capital Management Sells 4,409 Shares of Intel Co. (NASDAQ:INTC)

Narwhal Capital Management trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 25.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,179 shares of the chip maker’s stock after selling 4,409 shares during the quarter. Narwhal Capital Management’s holdings in Intel were worth $309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guardian Capital Advisors LP grew its holdings in Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after acquiring an additional 328 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Intel by 5.5% in the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after purchasing an additional 330 shares in the last quarter. Richard C. Young & CO. LTD. lifted its stake in shares of Intel by 0.9% in the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after purchasing an additional 338 shares during the period. Key Financial Inc boosted its holdings in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after buying an additional 340 shares in the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. grew its position in Intel by 5.0% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock worth $316,000 after buying an additional 342 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by insiders.

Intel Trading Down 1.9 %

NASDAQ INTC opened at $22.40 on Wednesday. The company has a market cap of $95.36 billion, a P/E ratio of 23.33 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a 50-day moving average of $21.51 and a 200-day moving average of $27.71.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 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 company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the company posted ($0.05) EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

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 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INTC shares. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. UBS Group decreased their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Finally, Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a 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 given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.92.

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.