Canandaigua National Bank & Trust Co. trimmed its position in Intel Co. (NASDAQ:INTC – Free Report) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,541 shares of the chip maker’s stock after selling 4,473 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Intel were worth $3,596,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares during the period. Axiom Financial Strategies LLC lifted its stake in Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after purchasing an additional 1,056 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of Intel in the 1st quarter worth about $142,000. Retirement Income Solutions Inc raised its holdings in shares of Intel by 5.1% during the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Intel by 26.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after buying an additional 1,244,247 shares in the last quarter. 60.84% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on INTC shares. Needham & Company LLC boosted their price objective on shares of Intel from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 28th. 22nd Century Group reiterated a “reiterates” rating on shares of Intel in a report on Wednesday, May 31st. Barclays increased their target price on Intel from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Robert W. Baird raised their target price on shares of Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Finally, Wells Fargo & Company dropped their target price on shares of Intel from $40.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.55.
Intel Trading Down 0.4 %
Shares of INTC stock opened at $38.71 on Thursday. The stock has a market capitalization of $162.12 billion, a P/E ratio of -175.95 and a beta of 0.89. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $34.74 and its 200 day moving average is $32.05. Intel Co. has a 12-month low of $24.59 and a 12-month high of $40.07.
Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. The company had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.03 billion. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. Research analysts expect that Intel Co. will post -0.11 earnings per share for the current year.
Intel Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Friday, August 4th. Intel’s payout ratio is currently -227.27%.
Insider Transactions at Intel
In other Intel news, CEO Patrick P. Gelsinger bought 3,850 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, the chief executive officer now owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the purchase, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,250 shares of Intel stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $35.87 per share, with a total value of $116,577.50. Following the completion of the purchase, the chief executive officer now directly owns 139,715 shares in the company, valued at $5,011,577.05. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.
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.
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