Quent Capital LLC Sells 2,193 Shares of Intel Co. (NASDAQ:INTC)

Quent Capital LLC reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 17.6% in the second quarter, Holdings Channel.com reports. The fund owned 10,254 shares of the chip maker’s stock after selling 2,193 shares during the quarter. Quent Capital LLC’s holdings in Intel were worth $318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Norges Bank purchased a new position in Intel during the 4th quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD increased its holdings 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 purchasing an additional 31,575,084 shares during the period. Capital International Investors increased its holdings in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. California Public Employees Retirement System increased its holdings in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after purchasing an additional 6,673,086 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INTC shares. StockNews.com upgraded Intel from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. The Goldman Sachs Group cut their price target on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a report on Friday. Benchmark downgraded Intel from a “buy” rating to a “hold” rating in a report on Friday. Finally, Wells Fargo & Company cut their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Five analysts have rated the stock with a sell rating, twenty-three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.92.

Intel Stock Performance

INTC traded down $0.28 on Tuesday, reaching $19.83. 106,500,528 shares of the stock were exchanged, compared to its average volume of 51,055,516. The company’s 50-day moving average price is $31.14 and its 200 day moving average price is $36.52. Intel Co. has a fifty-two week low of $19.29 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The firm has a market capitalization of $84.42 billion, a PE ratio of 20.76, a PEG ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, sell-side analysts forecast that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.52%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.