Carret Asset Management LLC Sells 3,574 Shares of Intel Co. (NASDAQ:INTC)

Carret Asset Management LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 3.7% in the third quarter, HoldingsChannel.com reports. The fund owned 93,183 shares of the chip maker’s stock after selling 3,574 shares during the period. Carret Asset Management LLC’s holdings in Intel were worth $2,186,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital International Investors raised its stake in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp lifted its stake in Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers lifted its stake in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new stake in Intel in the second quarter valued at approximately $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after buying an additional 4,272,395 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.68 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $21.62 and its 200-day moving average price is $27.45. The firm has a market capitalization of $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last posted 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 return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue 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 fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 217.40%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on INTC. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Northland Securities cut their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Roth Mkm decreased their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $31.15.

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.