Intel Co. (NASDAQ:INTC) Shares Sold by Cordant Inc.

Cordant Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,448 shares of the chip maker’s stock after selling 4,688 shares during the quarter. Cordant Inc.’s holdings in Intel were worth $198,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INTC. Onyx Bridge Wealth Group LLC raised its stake in Intel by 48.4% during the third quarter. Onyx Bridge Wealth Group LLC now owns 27,981 shares of the chip maker’s stock worth $656,000 after purchasing an additional 9,121 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Intel by 6.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 858,374 shares of the chip maker’s stock worth $20,137,000 after acquiring an additional 49,193 shares during the period. Ballast Inc. grew its holdings in Intel by 10.5% during the 3rd quarter. Ballast Inc. now owns 33,851 shares of the chip maker’s stock valued at $794,000 after purchasing an additional 3,228 shares in the last quarter. Sweet Financial Partners LLC increased its position in shares of Intel by 20.9% during the third quarter. Sweet Financial Partners LLC now owns 33,045 shares of the chip maker’s stock worth $775,000 after acquiring an additional 5,702 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in Intel by 47.4% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,212 shares of the chip maker’s stock worth $122,000 after purchasing an additional 1,675 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INTC. Cantor Fitzgerald lowered their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Susquehanna reduced their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.92.

Intel Stock Up 0.6 %

Shares of Intel stock opened at $22.44 on Friday. The stock has a market capitalization of $95.53 billion, a price-to-earnings ratio of 23.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company’s 50 day moving average price is $21.34 and its 200-day moving average price is $28.29. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company 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%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.23%. Intel’s dividend payout ratio is 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.