HM Payson & Co. Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

HM Payson & Co. lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,252 shares of the chip maker’s stock after selling 23,722 shares during the quarter. HM Payson & Co.’s holdings in Intel were worth $3,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new position in Intel in the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel in the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter worth $31,000. Financial Connections Group Inc. purchased a new position in Intel during the second quarter valued at $32,000. Finally, Triad Wealth Partners LLC bought a new stake in Intel during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.19 during trading on Thursday, hitting $22.11. 4,848,508 shares of the company were exchanged, compared to its average volume of 58,336,930. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm’s fifty day moving average price is $21.71 and its 200 day moving average price is $27.15. The company has a market cap of $94.12 billion, a price-to-earnings ratio of 23.23 and a beta of 1.03.

Intel (NASDAQ:INTC) last released 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the firm earned ($0.05) EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INTC shares. Cantor Fitzgerald decreased their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Morgan Stanley dropped their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.80.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

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.