Trust Co. of Toledo NA OH Sells 5,958 Shares of Intel Co. (NASDAQ:INTC)

Trust Co. of Toledo NA OH lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,138 shares of the chip maker’s stock after selling 5,958 shares during the period. Trust Co. of Toledo NA OH’s holdings in Intel were worth $2,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new position in shares of Intel in the 2nd quarter worth about $25,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the second quarter worth approximately $27,000. Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel during the 2nd quarter valued at $32,000. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

INTC stock opened at $22.39 on Thursday. The company has a fifty day simple moving average of $21.99 and a two-hundred day simple moving average of $29.72. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $95.31 billion, a P/E ratio of 23.32 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 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 during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The company’s revenue was down .8% on a year-over-year basis. Analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analyst Upgrades and Downgrades

INTC has been the topic of several research analyst reports. Benchmark restated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Finally, Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six 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.com, Intel currently has an average rating of “Hold” and an average price target 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.