Federated Hermes Inc. Sells 1,489 Shares of Intel Co. (NASDAQ:INTC)

Federated Hermes Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 0.4% during the 2nd quarter, Holdings Channel reports. The firm owned 371,841 shares of the chip maker’s stock after selling 1,489 shares during the quarter. Federated Hermes Inc.’s holdings in Intel were worth $11,516,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. increased its stake in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after acquiring an additional 247 shares in the last quarter. Enterprise Financial Services Corp raised its stake in Intel by 2.2% during the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after buying an additional 251 shares during the period. Summit Financial Strategies Inc. grew its stake in Intel by 3.7% in the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after acquiring an additional 265 shares during the period. Cape Investment Advisory Inc. increased its holdings in shares of Intel by 5.5% during the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after acquiring an additional 270 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its holdings in shares of Intel by 0.6% in the 4th quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after purchasing an additional 273 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of INTC opened at $20.91 on Tuesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock’s 50-day simple moving average is $24.71 and its 200 day simple moving average is $31.45. 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 stock has a market capitalization of $89.41 billion, a price-to-earnings ratio of 21.78 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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). The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. 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. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.39%. Intel’s payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INTC shares. UBS Group dropped their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Roth Mkm cut their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays decreased their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. TD Cowen cut their price objective on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six research 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. According to data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $32.04.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

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.