First City Capital Management Inc. Has $589,000 Stock Position in Intel Co. (NASDAQ:INTC)

First City Capital Management Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 13.2% during the 2nd quarter, Holdings Channel reports. The firm owned 19,018 shares of the chip maker’s stock after selling 2,888 shares during the period. First City Capital Management Inc.’s holdings in Intel were worth $589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTC. DDFG Inc bought a new position in Intel during the 4th quarter worth approximately $205,000. Gryphon Financial Partners LLC grew its holdings in shares of Intel by 8.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock valued at $1,060,000 after buying an additional 1,601 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Intel in the 4th quarter valued at $501,000. SageView Advisory Group LLC raised its stake in Intel by 15.1% during the 4th quarter. SageView Advisory Group LLC now owns 28,179 shares of the chip maker’s stock worth $1,416,000 after buying an additional 3,689 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in Intel by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after acquiring an additional 2,915 shares in the last quarter. 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 the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research analyst reports. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Susquehanna cut their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays lowered 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 report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six equities research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.04.

Intel Trading Up 3.3 %

Shares of Intel stock opened at $21.84 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a market capitalization of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. The business has a fifty day simple moving average of $23.67 and a two-hundred day simple moving average of $30.90. 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 announced its 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). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. Research analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.29%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.