Eagle Bay Advisors LLC Sells 1,573 Shares of Intel Co. (NASDAQ:INTC)

Eagle Bay Advisors LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 30.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,648 shares of the chip maker’s stock after selling 1,573 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Intel were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tributary Capital Management LLC acquired a new stake in shares of Intel during the 1st quarter worth approximately $27,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Intel during the 1st quarter worth approximately $36,000. America First Investment Advisors LLC bought a new position in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the 2nd quarter worth approximately $27,000. Finally, Spartan Fund Management Inc. bought a new position in shares of Intel during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 0.8 %

NASDAQ:INTC traded down $0.18 during trading hours on Wednesday, hitting $22.22. 13,263,263 shares of the company traded hands, compared to its average volume of 58,469,273. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $21.51 and its 200-day simple moving average is $27.71. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market cap of $94.59 billion, a PE ratio of 23.17 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was down .8% compared to the same quarter last year. Equities 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. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

INTC has been the subject of several analyst reports. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Finally, StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. 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 company. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $31.92.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

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.