CENTRAL TRUST Co Sells 22,591 Shares of Intel Co. (NASDAQ:INTC)

CENTRAL TRUST Co trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,051 shares of the chip maker’s stock after selling 22,591 shares during the quarter. CENTRAL TRUST Co’s holdings in Intel were worth $3,825,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INTC. America First Investment Advisors LLC bought a new stake in Intel during the 2nd quarter valued at about $25,000. Tributary Capital Management LLC purchased a new position in shares of Intel during the first quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the second quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in Intel in the second quarter worth approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $22.34 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 twelve month low of $18.51 and a twelve month high of $51.28. The company’s 50 day moving average is $21.55 and its 200 day moving average is $27.67. The company has a market cap of $95.10 billion, a PE ratio of 23.27 and a beta of 1.03.

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 the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.47 EPS 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 yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the 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 transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on INTC. Truist Financial lowered their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Northland Securities cut their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Six equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.