Maj Invest Holding A S Sells 1,262 Shares of Intel Co. (NASDAQ:INTC)

Maj Invest Holding A S decreased its position in Intel Co. (NASDAQ:INTC) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,198 shares of the chip maker’s stock after selling 1,262 shares during the quarter. Intel comprises 0.1% of Maj Invest Holding A S’s holdings, making the stock its 26th largest position. Maj Invest Holding A S’s holdings in Intel were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of INTC. Adirondack Trust Co. raised its stake in Intel by 0.5% during the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after acquiring an additional 278 shares during the last quarter. Abacus Wealth Partners LLC raised its stake in shares of Intel by 6.7% during the first quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after purchasing an additional 286 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of Intel by 1.8% during the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after purchasing an additional 299 shares during the period. VERITY Wealth Advisors grew its position in Intel by 3.8% in the 1st quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock valued at $373,000 after buying an additional 312 shares during the last quarter. Finally, Mechanics Bank Trust Department increased its stake in Intel by 0.8% in the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INTC shares. Northland Securities lowered their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Wedbush dropped their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their target price on Intel from $29.00 to $22.00 and set a “sell” 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 assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $31.96.

Intel Price Performance

Intel stock opened at $23.56 on Friday. The firm’s 50-day moving average is $21.12 and its two-hundred day moving average is $28.87. 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 stock has a market capitalization of $100.74 billion, a P/E ratio of 102.44 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. Equities analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 217.40%.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.