HM Payson & Co. Sells 23,722 Shares of Intel Co. (NASDAQ:INTC)

HM Payson & Co. cut its position in Intel Co. (NASDAQ:INTC) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,252 shares of the chip maker’s stock after selling 23,722 shares during the quarter. HM Payson & Co.’s holdings in Intel were worth $3,478,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in INTC. America First Investment Advisors LLC acquired a new position in shares of Intel in the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel during the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. bought a new position in Intel in the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in Intel in the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Intel during the second quarter valued at approximately $33,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on INTC shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Northland Securities lowered their price target on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Susquehanna cut their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.80.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Price Performance

Shares of Intel stock traded down $0.19 on Thursday, reaching $22.11. The stock had a trading volume of 4,848,508 shares, compared to its average volume of 58,336,930. The business’s 50 day moving average is $21.71 and its two-hundred day moving average is $27.15. The company has a market cap of $94.12 billion, a P/E ratio of 23.23 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. 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 (NASDAQ:INTC) last announced its 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Intel’s revenue was down .8% compared to the same quarter last year. As a group, research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

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.