Jacobs & Co. CA Lowers Stock Position in Intel Co. (NASDAQ:INTC)

Jacobs & Co. CA cut its stake in shares of Intel Co. (NASDAQ:INTC) by 81.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,412 shares of the chip maker’s stock after selling 237,668 shares during the quarter. Jacobs & Co. CA’s holdings in Intel were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel 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 transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent research reports. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Finally, Barclays decreased their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Six investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.04.

Intel Price Performance

NASDAQ INTC opened at $22.39 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market capitalization of $95.31 billion, a price-to-earnings ratio of 23.32 and a beta of 1.03. The stock has a 50-day moving average of $21.99 and a 200 day moving average of $29.72. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued its 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). The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is 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.