Trust Point Inc. Sells 1,125 Shares of Intel Co. (NASDAQ:INTC)

Trust Point Inc. cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,841 shares of the chip maker’s stock after selling 1,125 shares during the period. Trust Point Inc.’s holdings in Intel were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

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

Intel Stock Performance

Shares of Intel stock opened at $22.77 on Friday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a market cap of $96.93 billion, a PE ratio of 23.72 and a beta of 1.03. 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 50 day moving average of $21.40 and a 200-day moving average of $28.14.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Intel’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

INTC has been the topic of several research analyst reports. Truist Financial dropped their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. Finally, Northland Securities decreased their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price 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.