Piscataqua Savings Bank Reduces Holdings in Intel Co. (NASDAQ:INTC)

Piscataqua Savings Bank lessened its stake in Intel Co. (NASDAQ:INTC) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,402 shares of the chip maker’s stock after selling 313 shares during the period. Piscataqua Savings Bank’s holdings in Intel were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in shares of Intel by 100,953.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after purchasing an additional 51,083,262 shares during the period. Norges Bank acquired a new stake in shares of Intel in the fourth quarter valued at approximately $1,092,939,000. Clearbridge Investments LLC grew its position in shares of Intel by 4,407.3% during the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after acquiring an additional 16,074,485 shares during the last quarter. Morgan Stanley raised its position in Intel by 29.8% in the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after purchasing an additional 12,241,200 shares during the last quarter. Finally, FIL Ltd boosted its stake in Intel by 116.1% during the 1st quarter. FIL Ltd now owns 17,892,208 shares of the chip maker’s stock worth $584,538,000 after purchasing an additional 9,614,072 shares during the period. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTC. Needham & Company LLC upped their target price on shares of Intel from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 28th. Mizuho lifted their target price on Intel from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Raymond James raised their price objective on shares of Intel from $35.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. 22nd Century Group reaffirmed a “reiterates” rating on shares of Intel in a report on Wednesday, May 31st. Finally, Morgan Stanley reduced their price objective on shares of Intel from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Six analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $33.55.

Intel Stock Up 0.3 %

Shares of INTC stock opened at $37.99 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.60. The business has a 50 day moving average of $35.00 and a two-hundred day moving average of $32.28. Intel Co. has a 52 week low of $24.59 and a 52 week high of $40.07.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The firm had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.03 billion. As a group, equities analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, August 4th. Intel’s payout ratio is currently -227.26%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price of $34.63 per share, with a total value of $133,325.50. Following the completion of the acquisition, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Patrick P. Gelsinger acquired 3,250 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the acquisition, the chief executive officer now directly owns 139,715 shares in the company, valued at approximately $5,011,577.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the acquisition, the chief executive officer now owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel 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.