Harvey Investment Co. LLC Sells 500 Shares of Intel Co. (NASDAQ:INTC)

Harvey Investment Co. LLC reduced its position in Intel Co. (NASDAQ:INTC) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,602 shares of the chip maker’s stock after selling 500 shares during the quarter. Harvey Investment Co. LLC’s holdings in Intel were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of INTC. Vanguard Group Inc. lifted its holdings in shares of Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the period. Capital International Investors raised its position in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA lifted its stake in Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

Intel Price Performance

Intel stock opened at $22.11 on Thursday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $94.12 billion, a P/E ratio of 22.90 and a beta of 1.03. The business has a 50-day moving average of $21.55 and a 200-day moving average of $27.67.

Intel (NASDAQ:INTC) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the company earned ($0.05) earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTC. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Friday, August 2nd. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $31.92.

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.