Mcdaniel Terry & Co. Sells 554,930 Shares of Intel Co. (NASDAQ:INTC)

Mcdaniel Terry & Co. lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 97.9% in the third quarter, HoldingsChannel reports. The firm owned 12,000 shares of the chip maker’s stock after selling 554,930 shares during the period. Mcdaniel Terry & Co.’s holdings in Intel were worth $282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors boosted its holdings in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after buying an additional 487,191 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.34 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company’s 50-day moving average is $21.55 and its 200 day moving average is $27.67. The stock has a market capitalization of $95.10 billion, a P/E ratio of 23.27 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 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 for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

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

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of analyst reports. Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Roth Mkm lowered their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.92.

Intel Company 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.