Grimes & Company Inc. Has $2.44 Million Position in Intel Co. (NASDAQ:INTC)

Grimes & Company Inc. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 77.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,984 shares of the chip maker’s stock after selling 352,133 shares during the quarter. Grimes & Company Inc.’s holdings in Intel were worth $2,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. William B. Walkup & Associates Inc. bought a new stake in Intel during the 2nd quarter worth approximately $2,178,000. Fortis Group Advisors LLC increased its holdings in Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC bought a new position in Intel during the 3rd quarter worth $8,045,000. Brookstone Capital Management lifted its holdings in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after buying an additional 27,274 shares during the period. Finally, Sanibel Captiva Trust Company Inc. lifted its holdings in Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after buying an additional 48,765 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Susquehanna lowered their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Truist Financial lowered their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.92.

Intel Price Performance

Shares of Intel stock traded up $0.10 on Thursday, hitting $22.08. 4,504,937 shares of the company traded hands, compared to its average volume of 58,370,938. Intel Co. has a 12-month low of $18.51 and a 12-month 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. The company has a market cap of $93.99 billion, a P/E ratio of 22.90 and a beta of 1.03. The firm’s 50-day simple moving average is $21.55 and its 200 day simple moving average is $27.67.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.26%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price 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 in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

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.