First City Capital Management Inc. Has $589,000 Stock Position in Intel Co. (NASDAQ:INTC)

First City Capital Management Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 13.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,018 shares of the chip maker’s stock after selling 2,888 shares during the period. First City Capital Management Inc.’s holdings in Intel were worth $589,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INTC. Itau Unibanco Holding S.A. acquired a new stake in shares of Intel in the second quarter worth about $4,487,000. 1832 Asset Management L.P. lifted its holdings in Intel by 23.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 3,977 shares of the chip maker’s stock worth $123,000 after purchasing an additional 762 shares during the last quarter. Greenline Partners LLC boosted its position in Intel by 10.2% during the second quarter. Greenline Partners LLC now owns 73,379 shares of the chip maker’s stock worth $2,263,000 after purchasing an additional 6,776 shares during the period. Frank Rimerman Advisors LLC grew its holdings in Intel by 1,761.3% during the second quarter. Frank Rimerman Advisors LLC now owns 22,075 shares of the chip maker’s stock valued at $684,000 after purchasing an additional 20,889 shares during the last quarter. Finally, Holderness Investments Co. raised its position in shares of Intel by 1.3% in the second quarter. Holderness Investments Co. now owns 79,804 shares of the chip maker’s stock valued at $2,472,000 after purchasing an additional 1,036 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 3.3 %

Shares of INTC opened at $21.84 on Friday. The business’s 50 day simple moving average is $23.67 and its 200-day simple moving average is $30.90. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market capitalization of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 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 for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.29%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on INTC shares. The Goldman Sachs Group decreased their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Barclays lowered their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. UBS Group dropped their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Six 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.04.

Intel Company 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.