FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 814 Shares of Intel Co. (NASDAQ:INTC)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its position in Intel Co. (NASDAQ:INTC) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,674 shares of the chip maker’s stock after selling 814 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Intel were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Johnson Financial Group Inc. lifted its holdings in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after buying an additional 247 shares during the period. Enterprise Financial Services Corp raised its position in shares of Intel by 2.2% in the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after acquiring an additional 251 shares in the last quarter. Summit Financial Strategies Inc. raised its position in shares of Intel by 3.7% in the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after acquiring an additional 265 shares in the last quarter. Cape Investment Advisory Inc. raised its position in shares of Intel by 5.5% in the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after acquiring an additional 270 shares in the last quarter. Finally, Copperwynd Financial LLC raised its position in shares of Intel by 0.6% in the 4th quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after acquiring an additional 273 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of NASDAQ INTC opened at $19.07 on Tuesday. The firm has a market cap of $81.54 billion, a PE ratio of 19.86 and a beta of 1.03. The firm has a fifty day moving average of $25.93 and a 200 day moving average of $32.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a one year low of $18.64 and a one year high of $51.28.

Intel (NASDAQ:INTC) last announced its 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 business 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 revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.62%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Upgrades and Downgrades

INTC has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 price target on the stock. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Roth Mkm decreased 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. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.04.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Intel 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.