Barrett & Company Inc. Has $80,000 Position in Intel Co. (NASDAQ:INTC)

Barrett & Company Inc. cut its stake in Intel Co. (NASDAQ:INTC) by 29.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,391 shares of the chip maker’s stock after selling 1,408 shares during the quarter. Barrett & Company Inc.’s holdings in Intel were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new position in Intel in the 2nd quarter worth about $2,178,000. Fortis Group Advisors LLC grew its stake in shares of Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after buying an additional 157,991 shares in the last quarter. Private Advisory Group LLC acquired a new position in Intel in the third quarter worth approximately $8,045,000. Sanibel Captiva Trust Company Inc. raised its position in Intel by 21.1% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after acquiring an additional 48,765 shares in the last quarter. Finally, Forsta AP Fonden lifted its stake in Intel by 4.6% in the third quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after acquiring an additional 41,900 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Barclays lowered their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and cut their price target for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Northland Securities reduced their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $30.80.

Intel Stock Up 2.5 %

NASDAQ INTC traded up $0.57 during trading hours on Monday, reaching $23.25. 10,422,128 shares of the company’s stock were exchanged, compared to its average volume of 58,357,633. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company’s 50-day moving average is $21.62 and its two-hundred day moving average is $27.38. The company has a market capitalization of $99.42 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted 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 for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 217.40%.

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.