First Financial Bank Trust Division Cuts Stock Position in Intel Co. (NASDAQ:INTC)

First Financial Bank Trust Division cut its holdings in Intel Co. (NASDAQ:INTC) by 36.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,258 shares of the chip maker’s stock after selling 101,393 shares during the quarter. First Financial Bank Trust Division’s holdings in Intel were worth $4,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the last quarter. Capital International Investors boosted its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. UBS Group dropped their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Finally, Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.04.

Intel Stock Performance

Shares of INTC stock opened at $22.39 on Thursday. The firm’s 50 day moving average price is $21.99 and its 200-day moving average price is $29.72. 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 Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $95.31 billion, a P/E ratio of 23.32 and a beta of 1.03.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

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.