Thomas Story & Son LLC Trims Holdings in Intel Co. (NASDAQ:INTC)

Thomas Story & Son LLC lessened its position in Intel Co. (NASDAQ:INTC) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,716 shares of the chip maker’s stock after selling 840 shares during the period. Intel comprises 1.8% of Thomas Story & Son LLC’s portfolio, making the stock its 23rd largest holding. Thomas Story & Son LLC’s holdings in Intel were worth $4,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. DDFG Inc acquired a new position in Intel during the fourth quarter worth approximately $205,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Intel in the fourth quarter valued at $255,000. Spire Wealth Management grew its holdings in Intel by 15.0% during the 4th quarter. Spire Wealth Management now owns 46,487 shares of the chip maker’s stock valued at $2,238,000 after purchasing an additional 6,081 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in Intel by 4.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 9,508 shares of the chip maker’s stock worth $478,000 after buying an additional 410 shares during the period. Finally, Barlow Wealth Partners Inc. acquired a new position in Intel in the 4th quarter worth $275,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Down 1.4 %

NASDAQ INTC traded down $0.29 during trading on Wednesday, reaching $19.81. 22,222,367 shares of the company’s stock were exchanged, compared to its average volume of 53,803,973. The firm has a market capitalization of $84.33 billion, a PE ratio of 20.94 and a beta of 1.05. Intel Co. has a fifty-two week low of $18.84 and a fifty-two week 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. The company’s fifty day simple moving average is $26.86 and its 200-day simple moving average is $32.95.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Sell-side analysts predict that Intel Co. will post -0.46 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INTC shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and cut their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Northland Securities reduced their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.04.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

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.