Carnegie Investment Counsel Has $251,000 Holdings in Intel Co. (NASDAQ:INTC)

Carnegie Investment Counsel decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 78.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,716 shares of the chip maker’s stock after selling 38,296 shares during the quarter. Carnegie Investment Counsel’s holdings in Intel were worth $251,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on INTC. Benchmark reissued a “hold” rating on shares of Intel in a report on Monday, September 23rd. Northland Securities reduced their price target on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Susquehanna reduced their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.96.

Intel Stock Performance

Shares of INTC stock opened at $22.66 on Wednesday. The firm has a 50 day moving average of $21.24 and a 200-day moving average of $28.37. The company has a market cap of $96.46 billion, a price-to-earnings ratio of 23.60 and a beta of 1.03. 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 52 week low of $18.51 and a 52 week 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 the consensus estimate 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 the consensus estimate of $12.92 billion. During the same period last year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

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 $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.21%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel 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.