Intel Co. (NASDAQ:INTC) Shares Sold by Cardinal Capital Management

Cardinal Capital Management reduced its holdings in Intel Co. (NASDAQ:INTC) by 95.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,085 shares of the chip maker’s stock after selling 264,878 shares during the quarter. Cardinal Capital Management’s holdings in Intel were worth $330,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tributary Capital Management LLC acquired a new stake in Intel in the first quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Intel during the first quarter worth about $36,000. America First Investment Advisors LLC purchased a new stake in Intel during the second quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the second quarter valued at about $27,000. Finally, Spartan Fund Management Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at approximately $31,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC stock opened at $22.77 on Friday. The company’s fifty day simple moving average is $21.40 and its 200-day simple moving average is $28.14. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a market cap of $96.93 billion, a PE ratio of 23.72 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 dividend yield of 2.20%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 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 acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. Cantor Fitzgerald dropped their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group dropped their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Finally, HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.92.

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.