Bank & Trust Co Sells 1,340 Shares of Intel Co. (NASDAQ:INTC)

Bank & Trust Co trimmed its stake in Intel Co. (NASDAQ:INTC) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,384 shares of the chip maker’s stock after selling 1,340 shares during the quarter. Bank & Trust Co’s holdings in Intel were worth $431,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Atlas Private Wealth Advisors purchased a new stake in shares of Intel during the third quarter valued at approximately $222,000. Sanibel Captiva Trust Company Inc. boosted its stake in Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. ACT Wealth Management LLC increased its holdings in shares of Intel by 12.5% in the 3rd quarter. ACT Wealth Management LLC now owns 9,000 shares of the chip maker’s stock worth $211,000 after purchasing an additional 1,000 shares in the last quarter. Howard Financial Services LTD. raised its stake in shares of Intel by 186.7% in the third quarter. Howard Financial Services LTD. now owns 24,994 shares of the chip maker’s stock worth $586,000 after purchasing an additional 16,276 shares during the last quarter. Finally, Future Financial Wealth Managment LLC lifted its holdings in shares of Intel by 6.5% during the third quarter. Future Financial Wealth Managment LLC now owns 13,850 shares of the chip maker’s stock valued at $325,000 after purchasing an additional 843 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research reports. UBS Group dropped their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” 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 for the company in a research report on Friday, August 2nd. Finally, HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report 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 given a buy rating to the company’s stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $31.96.

Intel Stock Down 0.4 %

Intel stock traded down $0.10 during mid-day trading on Thursday, reaching $23.36. 17,426,225 shares of the company’s stock were exchanged, compared to its average volume of 58,994,895. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market cap of $99.44 billion, a P/E ratio of 24.32 and a beta of 1.03. The company has a fifty day moving average of $21.19 and a 200-day moving average of $29.04.

Intel (NASDAQ:INTC) last posted 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Company Profile

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.