Intel Co. (NASDAQ:INTC) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its position in Intel Co. (NASDAQ:INTC) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 69,247 shares of the chip maker’s stock after selling 7,561 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Intel were worth $1,625,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new stake in shares of Intel in the second quarter worth $2,178,000. Private Advisory Group LLC purchased a new stake in Intel during the 3rd quarter worth $8,045,000. Brookstone Capital Management increased its holdings in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Sanibel Captiva Trust Company Inc. raised its position in Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the period. Finally, Czech National Bank lifted its stake in shares of Intel by 7.2% during the third quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after purchasing an additional 58,021 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was 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 of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Price Performance

INTC opened at $22.77 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock has a fifty day moving average price of $21.40 and a 200 day moving average price of $28.03. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 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 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion during 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 1.78%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Northland Securities cut their price objective 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. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. TD Cowen upgraded Intel to a “hold” rating in a research report on Monday, September 16th. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Monday, September 23rd. Six research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.92.

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.