Douglas Lane & Associates LLC Sells 9,305 Shares of Intel Co. (NASDAQ:INTC)

Douglas Lane & Associates LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 22.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,053 shares of the chip maker’s stock after selling 9,305 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Intel were worth $775,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Capital International Investors boosted its position in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers grew its stake in Intel by 86.2% in the second 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 purchased a new position in Intel during the 2nd quarter worth $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after purchasing an additional 4,272,395 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Truist Financial cut their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Morgan Stanley decreased their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.96.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Intel Trading Up 1.5 %

Shares of Intel stock opened at $23.56 on Monday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market cap of $100.29 billion, a PE ratio of 24.54 and a beta of 1.03. The firm has a fifty day moving average price of $21.12 and a 200 day moving average price of $28.67.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. Equities research analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

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.