Keene & Associates Inc. Sells 995 Shares of Intel Co. (NASDAQ:INTC)

Keene & Associates Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,119 shares of the chip maker’s stock after selling 995 shares during the quarter. Keene & Associates Inc.’s holdings in Intel were worth $2,091,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INTC. America First Investment Advisors LLC acquired a new position in shares of Intel in the 2nd quarter valued at $25,000. Tributary Capital Management LLC bought a new position in Intel in the first quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the second quarter worth $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Cantor Fitzgerald decreased their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Finally, Truist Financial lowered their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock 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 given a buy rating to the stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus target price of $31.92.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Trading Down 1.9 %

Shares of Intel stock opened at $21.98 on Thursday. 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 50-day moving average of $21.55 and a 200-day moving average of $27.67. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock has a market cap of $93.57 billion, a PE ratio of 22.90 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) 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.