Sanibel Captiva Trust Company Inc. Acquires 48,765 Shares of Intel Co. (NASDAQ:INTC)

Sanibel Captiva Trust Company Inc. increased its holdings in Intel Co. (NASDAQ:INTC) by 21.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,591 shares of the chip maker’s stock after purchasing an additional 48,765 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Intel were worth $6,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares in the last quarter. Capital International Investors raised its stake in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Davis Selected Advisers grew its position in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in Intel during the 2nd quarter valued at $162,592,000. Institutional investors own 64.53% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have 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. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Barclays reduced their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six equities 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.96.

Intel Stock Up 0.6 %

Shares of NASDAQ INTC opened at $23.46 on Thursday. The firm has a 50 day moving average price of $21.34 and a 200 day moving average price of $29.08. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a market cap of $99.87 billion, a P/E ratio of 24.44 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly 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 firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. Analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed 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 2.13%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 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.