Griffin Asset Management Inc. Sells 1,206 Shares of Intel Co. (NASDAQ:INTC)

Griffin Asset Management Inc. trimmed its holdings in Intel Co. (NASDAQ:INTC) by 12.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,557 shares of the chip maker’s stock after selling 1,206 shares during the quarter. Griffin Asset Management Inc.’s holdings in Intel were worth $201,000 at the end of the most recent quarter.

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

Intel Stock Performance

Shares of INTC stock opened at $22.31 on Thursday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. 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 stock has a market cap of $94.97 billion, a PE ratio of 23.24 and a beta of 1.03. The business has a 50-day simple moving average of $21.30 and a 200-day simple moving average of $28.33.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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). The company 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 revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.24%. Intel’s dividend payout ratio is presently 52.08%.

Analysts Set New Price Targets

INTC has been the topic of several recent research reports. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. The Goldman Sachs Group reduced their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Roth Mkm decreased their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $31.96.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by corporate insiders.

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.