Intel Co. (NASDAQ:INTC) Stake Cut by First Western Trust Bank

First Western Trust Bank cut its position in shares of Intel Co. (NASDAQ:INTC) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,503 shares of the chip maker’s stock after selling 736 shares during the period. First Western Trust Bank’s holdings in Intel were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc bought a new position in Intel during the second quarter worth $25,000. Your Advocates Ltd. LLP lifted its stake in Intel by 396.4% during the second quarter. Your Advocates Ltd. LLP now owns 819 shares of the chip maker’s stock worth $27,000 after purchasing an additional 654 shares during the last quarter. Moser Wealth Advisors LLC acquired a new stake in Intel in the second quarter worth $31,000. Steward Financial Group LLC acquired a new stake in Intel in the second quarter worth $31,000. Finally, Venturi Wealth Management LLC acquired a new stake in Intel in the first quarter worth $32,000. 60.84% of the stock is currently owned by institutional investors.

Intel Stock Up 1.4 %

NASDAQ INTC traded up $0.61 during trading on Monday, reaching $44.42. 21,431,162 shares of the company’s stock were exchanged, compared to its average volume of 42,068,621. Intel Co. has a fifty-two week low of $24.73 and a fifty-two week high of $44.80. The firm has a market capitalization of $187.27 billion, a PE ratio of -111.08, a P/E/G ratio of 15.13 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $36.71 and its 200-day simple moving average is $34.37.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.57 billion. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post 0.19 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, November 6th. Intel’s dividend payout ratio (DPR) is presently -125.00%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 6,775 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was bought at an average cost of $36.80 per share, with a total value of $249,320.00. Following the purchase, the chief executive officer now directly owns 25,475 shares of the company’s stock, valued at $937,480. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Tigress Financial dropped their target price on Intel from $72.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Stifel Nicolaus increased their target price on Intel from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. raised their price target on Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, July 28th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Intel in a report on Friday, October 27th. Finally, Susquehanna raised their price target on Intel from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.53.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.