Oakworth Capital Inc. Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Oakworth Capital Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 27.1% during the third quarter, Holdings Channel.com reports. The firm owned 17,854 shares of the chip maker’s stock after selling 6,649 shares during the quarter. Oakworth Capital Inc.’s holdings in Intel were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Guardian Capital Advisors LP lifted its position in shares of Intel by 2.1% in the 1st 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 in the last quarter. Valley National Advisers Inc. lifted its position 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 acquiring an additional 330 shares in the last quarter. Richard C. Young & CO. LTD. lifted its position in shares of Intel by 0.9% in the 1st 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 in the last quarter. Key Financial Inc lifted its position in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares in the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its position in shares of Intel by 5.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock valued at $316,000 after acquiring an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. 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 issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.92.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Stock Performance

NASDAQ:INTC opened at $22.64 on Tuesday. The firm’s 50-day moving average is $21.47 and its 200-day moving average is $27.82. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market cap of $96.38 billion, a price-to-earnings ratio of 23.79 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 the consensus estimate of $12.92 billion. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts anticipate 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 $0.125 dividend. 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 currently 52.08%.

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.