Hayek Kallen Investment Management Sells 83,245 Shares of Intel Co. (NASDAQ:INTC)

Hayek Kallen Investment Management lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 84.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,804 shares of the chip maker’s stock after selling 83,245 shares during the quarter. Hayek Kallen Investment Management’s holdings in Intel were worth $347,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Syon Capital LLC acquired a new stake in shares of Intel during the 4th quarter worth approximately $311,000. Richardson Financial Services Inc. bought a new position in shares of Intel during the 4th quarter worth about $46,000. SageView Advisory Group LLC boosted its position in shares of Intel by 15.1% during the 4th quarter. SageView Advisory Group LLC now owns 28,179 shares of the chip maker’s stock valued at $1,416,000 after acquiring an additional 3,689 shares in the last quarter. Leo Wealth LLC bought a new stake in Intel in the fourth quarter valued at about $553,000. Finally, Trust Co. of Toledo NA OH raised its position in Intel by 0.3% in the first quarter. Trust Co. of Toledo NA OH now owns 115,097 shares of the chip maker’s stock worth $5,084,000 after purchasing an additional 397 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. UBS Group lowered their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Wedbush dropped their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Northland Securities lowered their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Roth Mkm cut their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $31.96.

Intel Trading Down 2.8 %

INTC traded down $0.66 during trading on Tuesday, reaching $22.78. 24,307,549 shares of the company’s stock were exchanged, compared to its average volume of 58,762,531. The company’s fifty day moving average price is $21.18 and its 200-day moving average price is $28.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm has a market capitalization of $96.97 billion, a PE ratio of 23.67 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm 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 revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. As a group, equities analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.19%. Intel’s payout ratio is 52.08%.

Intel Company 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.