Intel Co. (NASDAQ:INTC) Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,611 shares of the chip maker’s stock after selling 4,725 shares during the quarter. Intel accounts for approximately 1.2% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 28th largest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Intel were worth $3,147,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Adirondack Trust Co. raised its position in Intel by 0.5% during the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after buying an additional 278 shares during the period. Abacus Wealth Partners LLC grew its stake in Intel by 6.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock valued at $201,000 after acquiring an additional 286 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of Intel by 1.8% in the 1st quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock valued at $734,000 after purchasing an additional 299 shares during the period. VERITY Wealth Advisors lifted its position in shares of Intel by 3.8% in the first quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock worth $373,000 after purchasing an additional 312 shares in the last quarter. Finally, Mechanics Bank Trust Department boosted its holdings in shares of Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after purchasing an additional 320 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on INTC shares. Barclays dropped their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald cut their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. UBS Group reduced their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wedbush dropped their target price on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark reaffirmed 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 issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.04.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was 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 owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is owned by corporate insiders.

Intel Stock Down 3.3 %

Shares of INTC opened at $22.69 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $22.18 and a two-hundred day moving average price of $29.77. The stock has a market cap of $96.59 billion, a price-to-earnings ratio of 23.64 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

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 net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.