Gemmer Asset Management LLC Sells 1,073 Shares of Intel Co. (NASDAQ:INTC)

Gemmer Asset Management LLC lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,553 shares of the chip maker’s stock after selling 1,073 shares during the quarter. Gemmer Asset Management LLC’s holdings in Intel were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors raised its holdings in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA lifted its position in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Norges Bank purchased a new position in Intel during the fourth quarter worth $2,424,202,000. Finally, Price T Rowe Associates Inc. MD increased its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

INTC stock traded up $1.11 during midday trading on Tuesday, reaching $20.47. The stock had a trading volume of 77,433,221 shares, compared to its average volume of 52,010,426. The firm has a fifty day simple moving average of $30.06 and a two-hundred day simple moving average of $35.50. Intel Co. has a 52-week low of $18.84 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The stock has a market cap of $87.14 billion, a PE ratio of 20.83, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 1.82% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.44%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. Cantor Fitzgerald lowered their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. TD Cowen dropped their target price on Intel from $35.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Truist Financial cut their target price on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Barclays cut their price objective on Intel from $40.00 to $25.00 and set an “equal weight” 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-three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.04.

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.