Columbia Asset Management Sells 5,690 Shares of Intel Co. (NASDAQ:INTC)

Columbia Asset Management decreased its holdings in Intel Co. (NASDAQ:INTC) by 4.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 109,304 shares of the chip maker’s stock after selling 5,690 shares during the quarter. Columbia Asset Management’s holdings in Intel were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. DDFG Inc purchased a new position in shares of Intel during the 4th quarter valued at about $205,000. Gryphon Financial Partners LLC boosted its position in shares of Intel by 8.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after purchasing an additional 1,601 shares during the period. Montag A & Associates Inc. increased its stake in shares of Intel by 1.4% in the fourth quarter. Montag A & Associates Inc. now owns 31,733 shares of the chip maker’s stock worth $1,595,000 after purchasing an additional 425 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Intel during the 4th quarter valued at $3,743,000. Finally, Van Hulzen Asset Management LLC lifted its stake in shares of Intel by 11.4% during the 4th quarter. Van Hulzen Asset Management LLC now owns 14,241 shares of the chip maker’s stock valued at $716,000 after buying an additional 1,460 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

Intel Trading Down 0.2 %

NASDAQ INTC opened at $19.40 on Friday. The stock has a market cap of $82.59 billion, a PE ratio of 20.21 and a beta of 1.05. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The company’s 50-day moving average price is $26.41 and its 200-day moving average price is $32.76. 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 released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts forecast that Intel Co. will post -0.46 earnings per share for the current 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 issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.58%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Roth Mkm reduced their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial dropped their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a 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 stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $32.04.

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.