Bahl & Gaynor Inc. Has $9.42 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Bahl & Gaynor Inc. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 304,149 shares of the chip maker’s stock after selling 32,849 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Intel were worth $9,419,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INTC. Vanguard Group Inc. raised its stake in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors increased its holdings in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA lifted its stake 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 valued at $3,780,706,000 after buying an additional 475,636 shares during the period. Norges Bank bought a new position in Intel during the fourth quarter worth about $2,424,202,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after buying an additional 2,457,243 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Roth Mkm lowered their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. The Goldman Sachs Group lowered their price target on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.04.

Intel Price Performance

NASDAQ:INTC opened at $19.64 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The stock’s 50 day moving average price is $25.46 and its two-hundred day moving average price is $32.00. The firm has a market capitalization of $83.98 billion, a price-to-earnings ratio of 20.46 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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). The business had revenue of $12.80 billion for 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 for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. On average, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.55%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

About Intel

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.