Intel Co. (NASDAQ:INTC) Shares Sold by Cordant Inc.

Cordant Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 35.7% in the third quarter, Holdings Channel reports. The institutional investor owned 8,448 shares of the chip maker’s stock after selling 4,688 shares during the quarter. Cordant Inc.’s holdings in Intel were worth $198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Affirmative Financial Network raised its position in Intel by 1.8% in the 1st quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after purchasing an additional 299 shares during the period. Mechanics Bank Trust Department boosted its stake in Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock worth $1,702,000 after acquiring an additional 320 shares in the last quarter. Guardian Capital Advisors LP increased its position in Intel by 2.1% during the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Intel by 5.5% during the first quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after acquiring an additional 330 shares in the last quarter. Finally, Richard C. Young & CO. LTD. raised its holdings in Intel by 0.9% in the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after buying an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTC shares. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Susquehanna cut their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays reduced their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Stock Performance

INTC opened at $22.44 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The business’s 50 day moving average is $21.34 and its 200-day moving average is $28.29. The stock has a market cap of $95.53 billion, a PE ratio of 23.38 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. On average, analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.23%. Intel’s payout ratio is currently 52.08%.

Intel 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.