Narwhal Capital Management Has $545,000 Stake in Intel Co. (NASDAQ:INTC)

Narwhal Capital Management lowered its position in shares of Intel Co. (NASDAQ:INTC) by 18.8% in the second quarter, HoldingsChannel reports. The fund owned 17,588 shares of the chip maker’s stock after selling 4,073 shares during the period. Narwhal Capital Management’s holdings in Intel were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Burkett Financial Services LLC bought a new position in shares of Intel in the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth approximately $27,000. Tributary Capital Management LLC acquired a new stake in shares of Intel in the 1st quarter valued at approximately $27,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Intel in the first quarter valued at $36,000. Finally, Richardson Financial Services Inc. acquired a new position in Intel during the fourth quarter worth $46,000. Institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, 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 is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Trading Down 2.6 %

NASDAQ INTC opened at $18.89 on Friday. The company has a market cap of $80.41 billion, a price-to-earnings ratio of 19.68 and a beta of 1.05. Intel Co. has a twelve month low of $18.64 and a twelve month high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $26.17 and its 200 day moving average is $32.59.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts expect that Intel Co. will post -0.46 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

A number of analysts have commented on INTC shares. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and cut their price target for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note 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. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.