Intel Co. (NASDAQ:INTC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its stake in Intel Co. (NASDAQ:INTC) by 19.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,413 shares of the chip maker’s stock after selling 168,552 shares during the period. Texas Permanent School Fund Corp’s holdings in Intel were worth $21,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the 4th quarter valued at about $27,000. Burkett Financial Services LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter valued at $27,000. Spartan Fund Management Inc. acquired a new stake in Intel during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel during the 2nd quarter worth $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTC has been the subject of a number of recent research reports. Northland Securities decreased their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Barclays cut their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Finally, TD Cowen dropped their target price on Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $32.04.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Up 1.8 %

INTC stock traded up $0.34 during midday trading on Monday, hitting $19.23. 7,177,260 shares of the company’s stock were exchanged, compared to its average volume of 54,186,301. The firm has a 50 day moving average price of $26.17 and a 200-day moving average price of $32.43. Intel Co. has a 12-month low of $18.64 and a 12-month high of $51.28. The stock has a market capitalization of $82.23 billion, a price-to-earnings ratio of 19.68 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. On average, analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently disclosed 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

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.