Exchange Capital Management Inc. Decreases Holdings in Intel Co. (NASDAQ:INTC)

Exchange Capital Management Inc. trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 21.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,646 shares of the chip maker’s stock after selling 2,958 shares during the quarter. Exchange Capital Management Inc.’s holdings in Intel were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Johnson Financial Group Inc. lifted its position in shares of Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after buying an additional 247 shares during the last quarter. Benjamin Edwards Inc. increased its position in Intel by 5.3% during the fourth quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock worth $250,000 after acquiring an additional 249 shares during the period. Enterprise Financial Services Corp boosted its stake in shares of Intel by 2.2% in the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after buying an additional 251 shares during the period. Summit Financial Strategies Inc. raised its stake in Intel by 3.7% in the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after purchasing an additional 265 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its position in Intel by 5.5% during the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

INTC traded down $0.79 during trading hours on Thursday, hitting $20.62. The company’s stock had a trading volume of 32,247,208 shares, compared to its average volume of 52,402,625. The business’s 50-day moving average price is $28.69 and its 200-day moving average price is $34.45. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The stock has a market cap of $87.78 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. Intel’s revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.42%. Intel’s dividend payout ratio is presently 52.08%.

Analyst Ratings Changes

Several brokerages recently commented on INTC. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the stock 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 report on Friday, August 2nd. Finally, Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Six analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.