Burney Co. Sells 9,954 Shares of Intel Co. (NASDAQ:INTC)

Burney Co. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 12.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,202 shares of the chip maker’s stock after selling 9,954 shares during the quarter. Burney Co.’s holdings in Intel were worth $2,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Intel during the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD increased its stake in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. Capital International Investors raised its holdings in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after acquiring an additional 6,673,086 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Trading Up 2.5 %

NASDAQ:INTC traded up $0.50 on Thursday, reaching $20.11. 51,247,313 shares of the stock traded hands, compared to its average volume of 52,802,871. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company’s 50 day moving average is $27.63 and its 200-day moving average is $33.66. The firm has a market capitalization of $85.61 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. Equities research analysts anticipate that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INTC. Deutsche Bank Aktiengesellschaft dropped their price target on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Truist Financial dropped their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Northland Securities lowered their price objective 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. Finally, UBS Group reduced their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.04.

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.