Country Club Bank Sells 134,155 Shares of Intel Co. (NASDAQ:INTC)

Country Club Bank reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 58.8% during the third quarter, Holdings Channel reports. The fund owned 93,939 shares of the chip maker’s stock after selling 134,155 shares during the period. Country Club Bank’s holdings in Intel were worth $2,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors grew its holdings in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INTC. Cantor Fitzgerald cut their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.15.

Intel Price Performance

NASDAQ INTC opened at $22.68 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a 50-day moving average of $21.62 and a 200 day moving average of $27.53. The company has a market capitalization of $96.98 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Intel’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.20%. Intel’s payout ratio is 217.40%.

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.