Intel Co. (NASDAQ:INTC) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Intel Co. (NASDAQ:INTC) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 859,094 shares of the chip maker’s stock after selling 5,539 shares during the quarter. Amalgamated Bank’s holdings in Intel were worth $26,606,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. America First Investment Advisors LLC purchased a new stake in shares of Intel during the second quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel during the fourth quarter valued at $27,000. Burkett Financial Services LLC purchased a new stake in shares of Intel during the fourth quarter valued at $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel during the first quarter valued at $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter valued at $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $21.47 on Wednesday. The business has a 50 day moving average price of $24.45 and a 200 day moving average price of $31.29. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market cap of $91.40 billion, a price-to-earnings ratio of 22.36 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

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

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.33%. Intel’s payout ratio is 52.08%.

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 purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTC has been the topic of several recent analyst reports. Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald dropped their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research report on Monday. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six equities 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.04.

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.