Waters Parkerson & CO. LLC Sells 1,453 Shares of Intel Co. (NASDAQ:INTC)

Waters Parkerson & CO. LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,033 shares of the chip maker’s stock after selling 1,453 shares during the period. Waters Parkerson & CO. LLC’s holdings in Intel were worth $528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTC. Orion Portfolio Solutions LLC lifted its holdings in Intel by 3.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after acquiring an additional 2,915 shares during the period. Brookstone Capital Management grew its stake in shares of Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares during the period. Trexquant Investment LP increased its position in shares of Intel by 69.0% during the 4th quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock valued at $3,574,000 after purchasing an additional 29,040 shares during the last quarter. NBC Securities Inc. increased its holdings in Intel by 2.6% during the first quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after buying an additional 418 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Intel in the fourth quarter worth approximately $501,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $21.14 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $89.99 billion, a PE ratio of 22.02 and a beta of 1.03. The firm’s 50 day simple moving average is $23.92 and its 200-day simple moving average is $31.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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). 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 analysts’ expectations of $12.92 billion. During the same period last year, the company earned ($0.05) earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Analysts Set New Price Targets

A number of equities analysts recently commented on INTC shares. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Roth Mkm dropped their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Northland Securities lowered their price target on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired 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 owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by company insiders.

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.