Whittier Trust Co. cut its stake in shares of Intel Co. (NASDAQ:INTC – Free Report) by 23.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,626 shares of the chip maker’s stock after selling 26,444 shares during the quarter. Whittier Trust Co.’s holdings in Intel were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. Capital International Investors increased its holdings in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp grew its position in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its holdings in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Intel during the second quarter valued at about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the last quarter. 64.53% of the stock is owned by institutional investors.
Intel Stock Performance
Shares of INTC stock opened at $22.40 on Wednesday. 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 Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The firm has a market capitalization of $95.36 billion, a PE ratio of 23.33 and a beta of 1.03. The firm has a fifty day simple moving average of $21.51 and a two-hundred day simple moving average of $27.71.
Intel Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given 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 2.23%. Intel’s dividend payout ratio is currently 52.08%.
Insider Buying and Selling at Intel
In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on INTC shares. Northland Securities dropped their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.92.
Read Our Latest Research Report on Intel
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.
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