Ariel Investments LLC Sells 78,540 Shares of Intel Co. (NASDAQ:INTC)

Ariel Investments LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,230,983 shares of the chip maker’s stock after selling 78,540 shares during the period. Ariel Investments LLC’s holdings in Intel were worth $38,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of INTC. America First Investment Advisors LLC bought a new stake in shares of Intel during the 2nd quarter valued at $25,000. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter worth $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter worth $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter worth $31,000. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Intel Price Performance

Shares of INTC opened at $23.54 on Thursday. The firm has a market capitalization of $100.66 billion, a PE ratio of 24.52 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company’s fifty day moving average price is $23.20 and its 200-day moving average price is $30.49.

Intel (NASDAQ:INTC) last announced 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 for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. On average, equities research analysts predict 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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, Benchmark restated a “hold” rating on shares of Intel in a research report on Monday. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.04.

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.