Intel Co. (NASDAQ:INTC) Stock Position Reduced by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC decreased its stake in Intel Co. (NASDAQ:INTC) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,487 shares of the chip maker’s stock after selling 16,395 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Intel were worth $2,756,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in shares of Intel by 43.8% during the third quarter. Blue Trust Inc. now owns 60,665 shares of the chip maker’s stock worth $1,423,000 after acquiring an additional 18,488 shares in the last quarter. KMG Fiduciary Partners LLC increased its stake in shares of Intel by 41.8% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 317,633 shares of the chip maker’s stock worth $7,452,000 after purchasing an additional 93,599 shares during the last quarter. Net Worth Advisory Group bought a new position in shares of Intel during the 3rd quarter valued at $313,000. Aspiriant LLC lifted its stake in shares of Intel by 22.5% in the 3rd quarter. Aspiriant LLC now owns 27,896 shares of the chip maker’s stock valued at $654,000 after purchasing an additional 5,128 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Intel by 25.1% in the third quarter. V Square Quantitative Management LLC now owns 88,765 shares of the chip maker’s stock worth $2,082,000 after purchasing an additional 17,816 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley reduced their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. 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 report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research note 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’s stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $31.92.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought 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 directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of INTC stock opened at $22.77 on Friday. The firm’s 50 day moving average price is $21.40 and its two-hundred day moving average price is $28.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a market cap of $96.93 billion, a PE ratio of 23.72 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results 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 company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. As a group, analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given 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 dividend payout ratio is currently 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.