Jacobs & Co. CA Reduces Holdings in Intel Co. (NASDAQ:INTC)

Jacobs & Co. CA decreased its holdings in Intel Co. (NASDAQ:INTC) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 299,943 shares of the chip maker’s stock after selling 20,172 shares during the quarter. Jacobs & Co. CA’s holdings in Intel were worth $10,030,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its holdings in Intel by 100,953.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after buying an additional 51,083,262 shares during the last quarter. Norges Bank bought a new position in Intel during the fourth quarter worth $1,092,939,000. Clearbridge Investments LLC boosted its holdings in Intel by 4,407.3% in the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares during the period. Morgan Stanley increased its stake in Intel by 29.8% during the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after purchasing an additional 12,241,200 shares during the last quarter. Finally, FIL Ltd raised its holdings in shares of Intel by 116.1% during the first quarter. FIL Ltd now owns 17,892,208 shares of the chip maker’s stock worth $584,538,000 after purchasing an additional 9,614,072 shares during the period. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Intel Price Performance

INTC stock opened at $37.65 on Monday. Intel Co. has a one year low of $24.59 and a one year high of $40.07. The firm has a 50-day moving average of $35.00 and a two-hundred day moving average of $32.28. The firm has a market capitalization of $157.68 billion, a PE ratio of -172.17 and a beta of 0.89. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. The firm had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.03 billion. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. On average, analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, August 4th. Intel’s dividend payout ratio is currently -227.26%.

Analyst Ratings Changes

Several research firms recently weighed in on INTC. Stifel Nicolaus increased their price objective on shares of Intel from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, July 28th. Robert W. Baird boosted their price objective on Intel from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. increased their target price on Intel from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, July 28th. Tigress Financial reduced their price target on shares of Intel from $72.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 4th. Finally, Wolfe Research lifted their price objective on shares of Intel from $27.00 to $31.00 and gave the company an “underperform” rating in a research report on Friday, July 28th. Six equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.55.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 3,250 shares of Intel stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $35.87 per share, with a total value of $116,577.50. Following the completion of the transaction, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the purchase, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $35.87 per share, with a total value of $116,577.50. Following the completion of the purchase, the chief executive officer now directly owns 139,715 shares in the company, valued at $5,011,577.05. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel Company Profile

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.