Callan Capital LLC Decreases Holdings in Intel Co. (NASDAQ:INTC)

Callan Capital LLC decreased its holdings in Intel Co. (NASDAQ:INTC) by 28.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,189 shares of the chip maker’s stock after selling 6,594 shares during the period. Callan Capital LLC’s holdings in Intel were worth $501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the last quarter. Capital International Investors lifted its stake in shares of 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 acquiring an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares during the period. Davis Selected Advisers increased its stake in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Intel by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after purchasing an additional 4,678,169 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average price 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial reduced their price target 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. The Goldman Sachs Group decreased their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

Shares of NASDAQ INTC opened at $21.84 on Friday. The stock has a market cap of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a 50 day simple moving average of $23.67 and a two-hundred day simple moving average of $30.98. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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 net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

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

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.