Marble Harbor Investment Counsel LLC Sells 1,150 Shares of Intel Co. (NASDAQ:INTC)

Marble Harbor Investment Counsel LLC cut its stake in Intel Co. (NASDAQ:INTC) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 52,124 shares of the chip maker’s stock after selling 1,150 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Intel were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of INTC. Vanguard Group Inc. boosted its holdings in shares of Intel by 0.9% during 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 during the period. 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 valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA grew its holdings in Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Intel by 6.6% in the 1st 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 buying an additional 2,457,243 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Intel by 7.3% during the fourth quarter. Wellington Management Group LLP now owns 37,080,015 shares of the chip maker’s stock worth $1,863,271,000 after buying an additional 2,515,978 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Barclays decreased 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. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, TD Cowen dropped their price objective on Intel from $35.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six 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, Intel currently has an average rating of “Hold” and a consensus target price of $32.04.

Insider Activity

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 shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of Intel stock opened at $19.66 on Monday. The stock has a market cap of $84.07 billion, a price-to-earnings ratio of 20.48 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company’s fifty day moving average is $24.98 and its 200 day moving average is $31.60.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company 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%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. Sell-side analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Intel Company 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.