FARMERS & MERCHANTS TRUST Co OF LONG BEACH Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,788 shares of the chip maker’s stock after purchasing an additional 1,114 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Intel were worth $417,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after acquiring an additional 3,310,528 shares in the last quarter. Capital International Investors boosted its holdings in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA grew its position in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

INTC stock opened at $23.56 on Friday. The firm has a 50-day simple moving average of $21.12 and a two-hundred day simple moving average of $28.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $100.74 billion, a price-to-earnings ratio of 102.44 and a beta of 1.03.

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

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 217.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research note on Monday, September 23rd. The Goldman Sachs Group lowered their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Susquehanna dropped their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a 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.com, Intel currently has an average rating of “Hold” and an average target price of $31.96.

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.