Probity Advisors Inc. Sells 4,667 Shares of Intel Co. (NASDAQ:INTC)

Probity Advisors Inc. cut its position in shares of Intel Co. (NASDAQ:INTC) by 21.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,230 shares of the chip maker’s stock after selling 4,667 shares during the period. Probity Advisors Inc.’s holdings in Intel were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. First Affirmative Financial Network increased its position in shares of Intel by 1.8% during the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock valued at $734,000 after acquiring an additional 299 shares during the last quarter. Mechanics Bank Trust Department increased its position in shares of Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after acquiring an additional 320 shares during the last quarter. Guardian Capital Advisors LP increased its position in shares of Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after acquiring an additional 328 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Intel by 5.5% during the first quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after acquiring an additional 330 shares during the last quarter. Finally, Richard C. Young & CO. LTD. increased its position in shares of Intel by 0.9% during 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 acquiring an additional 338 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays reduced their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Northland Securities reduced their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Finally, Roth Mkm reduced their price objective on Intel from $35.00 to $25.00 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’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $31.96.

Intel Trading Up 1.6 %

NASDAQ INTC opened at $22.66 on Thursday. The stock’s 50-day simple moving average is $21.30 and its two-hundred day simple moving average is $28.33. Intel Co. has a twelve month low of $18.51 and a twelve month 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 $96.46 billion, a price-to-earnings ratio of 23.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.21%. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.04% of the company’s stock.

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.