Intel Co. (NASDAQ:INTC) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,823 shares of the chip maker’s stock after selling 2,949 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Intel were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. America First Investment Advisors LLC bought a new position in Intel during the second quarter valued at about $25,000. Tributary Capital Management LLC bought a new position in shares of Intel during the 1st quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel in the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in Intel during the second quarter valued at approximately $32,000. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on INTC shares. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Barclays reduced their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.92.

Intel Price Performance

NASDAQ INTC opened at $22.34 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The stock’s 50-day moving average is $21.55 and its two-hundred day moving average is $27.67. The firm has a market cap of $95.10 billion, a P/E ratio of 23.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.24%. Intel’s payout ratio is presently 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.