Trust Co. of Vermont Has $1.20 Million Stock Position in Intel Co. (NASDAQ:INTC)
Trust Co. of Vermont reduced its stake in Intel Co. (NASDAQ: INTC) by 31.4% in Q3, now holding 51,033 shares valued at $1,197,000. Other hedge funds also adjusted their positions. CEO Patrick P. Gelsinger purchased 12,500 shares recently. Analysts have downgraded Intel's stock ratings, with six rating it as a sell. The stock opened at $32.77, with a market cap of $139.93 billion. Intel reported a quarterly EPS of $0.02, missing estimates, and announced a dividend of $0.125 per share.
Trust Co. of Vermont lowered its position in Intel Co. (NASDAQ:INTC - Free Report) by 31.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,033 shares of the chip maker's stock after selling 23,405 shares during the quarter. Trust Co. of Vermont's holdings in Intel were worth $1,197,000 at the end of the most recent quarter.
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Other hedge funds also recently bought and sold shares of the company. America First Investment Advisors LLC bought a new stake in shares of Intel in the 2nd quarter valued at approximately $25,000. Tributary Capital Management LLC bought a new stake in Intel in the first quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel during the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter valued at $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Intel
In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company's stock, valued at $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.04% of the company's stock.
Analyst Upgrades and Downgrades
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Several research firms have weighed in on INTC. Barclays cut their target price on Intel from $40.00 to $25.00 and set an "equal weight" rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded Intel from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. The Goldman Sachs Group decreased their target price on Intel from $22.00 to $21.00 and set a "sell" rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Finally, Wedbush lowered their target price on shares of Intel from $32.50 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $31.92.
Check Out Our Latest Research Report on INTC
Intel Price Performance
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NASDAQ:INTC opened at $22.77 on Friday. The company has a market capitalization of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03. The company has a 50-day moving average of $21.40 and a 200-day moving average of $28.14. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. 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 (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts' consensus estimates 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 prior year, the business earned ($0.05) EPS. The firm's revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.
Intel Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.20%. Intel's dividend payout ratio is currently 52.08%.
Intel Profile
(Free Report)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.
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