Ferguson Wellman Capital Management Inc. Sells 30,870 Shares of Intel Co. (NASDAQ:INTC)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Intel Co. (NASDAQ:INTC) by 36.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,535 shares of the chip maker’s stock after selling 30,870 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Intel were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. America First Investment Advisors LLC purchased a new stake in shares of Intel in the second quarter worth $25,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the 1st quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel during the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the second quarter worth approximately $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTC. UBS Group cut their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reduced their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. reduced their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Finally, Northland Securities dropped their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.92.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value 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. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC opened at $22.77 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The business’s fifty day simple moving average is $21.40 and its two-hundred day simple moving average is $28.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company 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 released its quarterly earnings data 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 business had revenue of $12.80 billion during 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%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

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

Intel 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.