Intel Co. (NASDAQ:INTC) Stock Holdings Cut by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. lessened its position in Intel Co. (NASDAQ:INTC) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,595 shares of the chip maker’s stock after selling 2,721 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Intel were worth $1,093,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTC. America First Investment Advisors LLC bought a new position in shares of Intel in the second quarter valued at $25,000. Tributary Capital Management LLC acquired a new position in shares of Intel in the 1st quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel during the second quarter worth $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter valued at $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.65 during trading hours on Friday, hitting $22.99. 7,449,190 shares of the stock were exchanged, compared to its average volume of 58,299,090. The firm has a market capitalization of $97.87 billion, a P/E ratio of 23.27 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company’s 50 day moving average is $21.55 and its 200 day 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 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 analyst estimates of $12.92 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts expect that Intel Co. will post -0.47 EPS for the current 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 given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.17%. Intel’s dividend payout ratio is 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of analyst reports. Wedbush reduced their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald cut their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.92.

Intel Company 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.