Ballentine Partners LLC Sells 22,895 Shares of Intel Co. (NASDAQ:INTC)

Ballentine Partners LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 38.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,372 shares of the chip maker’s stock after selling 22,895 shares during the quarter. Ballentine Partners LLC’s holdings in Intel were worth $877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new stake in Intel in the second quarter worth $2,178,000. Fortis Group Advisors LLC raised its holdings in Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC acquired a new stake in Intel in the third quarter worth $8,045,000. Sanibel Captiva Trust Company Inc. raised its holdings 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 worth $6,559,000 after purchasing an additional 48,765 shares during the period. Finally, Brookstone Capital Management raised its holdings in Intel by 18.9% in the third quarter. Brookstone Capital Management now owns 52,075 shares of the chip maker’s stock worth $1,222,000 after purchasing an additional 8,282 shares during the period. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

Shares of INTC opened at $22.68 on Friday. The firm has a 50-day moving average of $21.62 and a 200-day moving average of $27.53. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market cap of $96.98 billion, a PE ratio of 98.61 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last announced its 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 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%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.125 per share. 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 217.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INTC shares. Barclays cut their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Finally, Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six equities 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 has a consensus rating of “Hold” and a consensus target price of $31.15.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by insiders.

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.