Old North State Trust LLC Has $749,000 Position in Intel Co. (NASDAQ:INTC)

Old North State Trust LLC lifted its position in Intel Co. (NASDAQ:INTC) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,185 shares of the chip maker’s stock after acquiring an additional 2,200 shares during the period. Old North State Trust LLC’s holdings in Intel were worth $749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of Intel by 16.2% in the 4th quarter. Jones Financial Companies Lllp now owns 19,021 shares of the chip maker’s stock valued at $956,000 after purchasing an additional 2,649 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Intel by 3.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,141,151 shares of the chip maker’s stock valued at $157,843,000 after buying an additional 115,236 shares during the period. CWA Asset Management Group LLC increased its position in shares of Intel by 12.0% during the fourth quarter. CWA Asset Management Group LLC now owns 20,225 shares of the chip maker’s stock worth $1,016,000 after acquiring an additional 2,167 shares in the last quarter. Wellspring Financial Advisors LLC acquired a new stake in shares of Intel during the fourth quarter worth $263,000. Finally, NEOS Investment Management LLC lifted its position in Intel by 5.3% in the 4th quarter. NEOS Investment Management LLC now owns 203,472 shares of the chip maker’s stock valued at $10,224,000 after acquiring an additional 10,267 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 0.0 %

Shares of Intel stock opened at $23.91 on Monday. The firm’s 50 day moving average is $22.58 and its 200 day moving average is $30.05. The firm has a market capitalization of $101.78 billion, a PE ratio of 24.91 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

INTC has been the topic of a number of research reports. Northland Securities cut their price target on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a 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. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Wedbush reduced their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

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.