Valley National Advisers Inc. Cuts Stake in Intel Co. (NASDAQ:INTC)

Valley National Advisers Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 50.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,410 shares of the chip maker’s stock after selling 2,454 shares during the quarter. Valley National Advisers Inc.’s holdings in Intel were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Guardian Capital Advisors LP boosted its position in Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after purchasing an additional 328 shares in the last quarter. Richard C. Young & CO. LTD. grew its stake in Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after acquiring an additional 338 shares during the period. Key Financial Inc grew its stake in Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares during the period. Comprehensive Financial Consultants Institutional Inc. increased its holdings in Intel by 5.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock worth $316,000 after acquiring an additional 342 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Intel by 3.9% during the first quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock worth $400,000 after acquiring an additional 343 shares during the period. 64.53% of the stock is owned by institutional investors.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Trading Up 1.1 %

Shares of INTC stock opened at $22.92 on Tuesday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm has a market cap of $97.57 billion, a PE ratio of 23.88 and a beta of 1.03. The company has a 50-day moving average of $21.65 and a two-hundred day moving average of $27.28. 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 posted its 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 analyst estimates of $12.92 billion. During the same quarter last year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

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 dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analysts Set New Price Targets

A number of research firms have recently commented on INTC. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays reduced their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.80.

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.