NorthCrest Asset Manangement LLC Sells 11,896 Shares of Intel Co. (NASDAQ:INTC)

NorthCrest Asset Manangement LLC cut its stake in Intel Co. (NASDAQ:INTC) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,360 shares of the chip maker’s stock after selling 11,896 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Intel were worth $5,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vicus Capital boosted its stake in Intel by 39.5% during the first quarter. Vicus Capital now owns 13,674 shares of the chip maker’s stock worth $604,000 after buying an additional 3,872 shares in the last quarter. Founders Financial Securities LLC boosted its position in shares of Intel by 9.5% during the 1st quarter. Founders Financial Securities LLC now owns 35,381 shares of the chip maker’s stock valued at $1,563,000 after acquiring an additional 3,079 shares in the last quarter. LVW Advisors LLC increased its stake in Intel by 32.6% in the first quarter. LVW Advisors LLC now owns 11,479 shares of the chip maker’s stock valued at $507,000 after acquiring an additional 2,823 shares during the period. Compass Ion Advisors LLC raised its position in Intel by 1.7% in the first quarter. Compass Ion Advisors LLC now owns 33,486 shares of the chip maker’s stock worth $1,479,000 after purchasing an additional 555 shares in the last quarter. Finally, Oak Asset Management LLC lifted its stake in Intel by 0.4% during the first quarter. Oak Asset Management LLC now owns 134,058 shares of the chip maker’s stock worth $5,921,000 after purchasing an additional 513 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Wedbush cut their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Benchmark reissued a “hold” rating on shares of Intel in a report on Monday, September 23rd. Finally, Truist Financial decreased their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $31.15.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 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, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

Intel Trading Up 1.5 %

NASDAQ INTC opened at $22.68 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $27.53. 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 company has a market capitalization of $96.98 billion, a PE ratio of 98.61 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Research analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 217.40%.

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.