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

Estabrook Capital Management trimmed its position in Intel Co. (NASDAQ:INTC) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,170 shares of the chip maker’s stock after selling 3,648 shares during the period. Estabrook Capital Management’s holdings in Intel were worth $2,700,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INTC. Orion Portfolio Solutions LLC increased its stake in shares of Intel by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after acquiring an additional 2,915 shares during the period. Brookstone Capital Management increased its position in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares during the period. NBC Securities Inc. increased its position in Intel by 2.6% during the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock worth $736,000 after purchasing an additional 418 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Intel during the 4th quarter worth approximately $501,000. Finally, Red Mountain Financial LLC purchased a new stake in shares of Intel in the fourth quarter valued at approximately $859,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

INTC opened at $21.84 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year 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’s 50 day simple moving average is $23.67 and its 200 day simple moving average is $30.90. The stock has a market capitalization of $92.97 billion, a PE ratio of 22.75 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.29%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on INTC. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial decreased their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six equities 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, Intel has an average rating of “Hold” and a consensus target price of $32.04.

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.