Hancock Whitney Corp Sells 1,927 Shares of Intel Co. (NASDAQ:INTC)

Hancock Whitney Corp lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,952 shares of the chip maker’s stock after selling 1,927 shares during the quarter. Hancock Whitney Corp’s holdings in Intel were worth $649,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Johnson Financial Group Inc. boosted its holdings in Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after buying an additional 247 shares during the period. Summit Financial Strategies Inc. lifted its position in shares of Intel by 3.7% during the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after acquiring an additional 265 shares in the last quarter. Cape Investment Advisory Inc. boosted its holdings in shares of Intel by 5.5% in the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after acquiring an additional 270 shares during the period. Copperwynd Financial LLC grew its position in shares of Intel by 0.6% in the fourth quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock valued at $2,283,000 after purchasing an additional 273 shares in the last quarter. Finally, Adirondack Trust Co. raised its stake in shares of Intel by 0.5% during the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after purchasing an additional 278 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on INTC. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Northland Securities decreased their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald lowered their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Truist Financial reduced their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Barclays dropped their price target on Intel from $40.00 to $25.00 and set an “equal weight” 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.04.

Intel Trading Up 3.3 %

NASDAQ:INTC opened at $22.56 on Tuesday. The firm has a market capitalization of $96.04 billion, a P/E ratio of 23.50 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $23.43 and a 200 day moving average of $30.64.

Intel (NASDAQ:INTC) last posted its 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). The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, research analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

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.