Crossmark Global Holdings Inc. Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Crossmark Global Holdings Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,206 shares of the chip maker’s stock after selling 6,102 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Intel were worth $6,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. Smith Salley Wealth Management boosted its holdings in Intel by 3.6% in the second quarter. Smith Salley Wealth Management now owns 313,766 shares of the chip maker’s stock worth $9,717,000 after acquiring an additional 10,906 shares in the last quarter. F M Investments LLC purchased a new position in shares of Intel in the 2nd quarter worth about $490,000. Panagora Asset Management Inc. boosted its stake in Intel by 95.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 150,672 shares of the chip maker’s stock worth $4,666,000 after purchasing an additional 73,581 shares in the last quarter. Tobam grew its position in Intel by 7.7% during the 2nd quarter. Tobam now owns 210,048 shares of the chip maker’s stock valued at $6,505,000 after purchasing an additional 14,952 shares during the last quarter. Finally, Argyle Capital Management Inc. increased its stake in Intel by 1.0% during the 2nd quarter. Argyle Capital Management Inc. now owns 96,590 shares of the chip maker’s stock valued at $2,991,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Benchmark cut Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reduced 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. Six research 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 company currently has an average rating of “Hold” and a consensus price target of $32.04.

Insider Transactions at Intel

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

Intel Stock Performance

Shares of NASDAQ:INTC traded up $1.91 during mid-day trading on Friday, reaching $22.04. 177,563,785 shares of the company traded hands, compared to its average volume of 53,623,316. Intel Co. has a 52 week low of $18.84 and a 52 week high of $51.28. The firm has a market cap of $93.82 billion, a PE ratio of 22.96, a PEG ratio of 17.38 and a beta of 1.05. The company’s 50 day moving average price is $27.24 and its 200-day moving average price is $33.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

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 analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, equities analysts expect that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.27%. Intel’s payout ratio is 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.