Intel Co. (NASDAQ:INTC) Position Trimmed by Wilbanks Smith & Thomas Asset Management LLC

27 Jan 2024, 01:14 by Doug Wharley · The Cerbat Gem

Wilbanks Smith & Thomas Asset Management LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC – Free Report) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 68,041 shares of the chip maker’s stock after selling 1,396 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Intel were worth $2,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc bought a new position in shares of Intel during the 2nd quarter valued at $25,000. Cornerstone Planning Group LLC bought a new position in shares of Intel during the 2nd quarter valued at $25,000. Your Advocates Ltd. LLP raised its holdings in shares of Intel by 396.4% during the 2nd quarter. Your Advocates Ltd. LLP now owns 819 shares of the chip maker’s stock valued at $27,000 after purchasing an additional 654 shares in the last quarter. Legacy Financial Group LLC bought a new position in Intel in the 3rd quarter worth $30,000. Finally, Moser Wealth Advisors LLC bought a new position in Intel in the 2nd quarter worth $31,000. 60.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 6,775 shares of Intel stock in a transaction on Wednesday, November 1st. The shares were purchased at an average cost of $36.80 per share, for a total transaction of $249,320.00. Following the completion of the purchase, the chief executive officer now directly owns 25,475 shares of the company’s stock, valued at approximately $937,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC traded down $5.90 during mid-day trading on Friday, reaching $43.65. 127,567,352 shares of the company’s stock were exchanged, compared to its average volume of 47,299,754. Intel Co. has a one year low of $24.73 and a one year high of $51.28. The firm has a market capitalization of $184.03 billion, a PE ratio of -109.87, a price-to-earnings-growth ratio of 5.65 and a beta of 0.99. The business’s fifty day simple moving average is $46.23 and its two-hundred day simple moving average is $39.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.53.

Intel (NASDAQ:INTC – Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. Analysts anticipate that Intel Co. will post 0.27 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.15%. Intel’s payout ratio is -125.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTC. Northland Securities lifted their target price on shares of Intel from $45.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, October 4th. Mizuho dropped their target price on shares of Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company decreased their price target on shares of Intel from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday. Benchmark raised their price target on shares of Intel from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James decreased their price target on shares of Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.72.

Check Out Our Latest Stock Analysis on Intel

About Intel

(Free Report)

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.