Intel Co. (NASDAQ:INTC) Holdings Raised by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its stake in Intel Co. (NASDAQ:INTC) by 148.5% during the second quarter, HoldingsChannel reports. The firm owned 95,760 shares of the chip maker’s stock after acquiring an additional 57,220 shares during the period. Mechanics Bank Trust Department’s holdings in Intel were worth $2,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position 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 in the last quarter. Capital International Investors boosted its stake in Intel by 16.0% in 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 period. Primecap Management Co. CA grew its position in Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares in the last quarter. Norges Bank acquired a new stake in Intel during the 4th quarter valued at $2,424,202,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 purchasing an additional 2,457,243 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on INTC shares. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Intel in a research report on Monday, May 13th. They set a “hold” rating and a $34.00 price objective on the stock. Citigroup cut their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $32.04.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following 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 can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of Intel stock traded down $0.78 during trading on Friday, reaching $19.71. The company’s stock had a trading volume of 76,394,546 shares, compared to its average volume of 51,828,367. Intel Co. has a one year low of $18.84 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market cap of $83.91 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The business’s fifty day moving average price is $30.28 and its 200-day moving average price is $35.71.

Intel (NASDAQ:INTC) last issued 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). 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 1.82% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. As a group, equities research analysts predict that Intel Co. will post 0.07 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.54%. Intel’s dividend payout ratio is 52.08%.

About Intel

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.