Shares of Intel Co. (NASDAQ:INTC) were downgraded by American National Bank & Trust

American National Bank & Trust reduced its position in shares of Intel Co. (NASDAQ:INTC – Free Report ) by 30.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,922 shares of the chip maker’s stock after selling 5,779 shares during the period. American National Bank & Trust’s holdings in Intel were worth $303,000 as of its most recent SEC filing.

Other hedge funds have recently modified their positions in the company. Tributary Capital Management LLC purchased a new position in Intel in the first quarter valued at about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel in the 1st quarter valued at approximately $36,000. America First Investment Advisors LLC bought a new stake in shares of Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel during the second quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. bought a new position in Intel in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 64.53% of the company’s shares.

Intel price performance

Shares of NASDAQ:INTC opened at $22.26 on Friday. The company’s fifty day moving average is $21.82 and its two hundred day moving average is $29.67. The company has a market cap of $94.76 billion, a P/E ratio of 23.19 and a beta of 1.03. Intel Co. it has a 12-month low of $18.51 and a 12-month high of $51.28. 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 (NASDAQ:INTC – Get Free Report ) last posted 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was down 0.8% year-over-year. Stock analysts expect Intel Co. will record -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7. This represents an annualized dividend of $0.50 and a yield of 2.25%. Intel’s dividend payout ratio is currently 52.08%.

Analyst upgrades and downgrades

Several equities analysts recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of Intel in a report on Monday, September 23rd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a research note on Friday, August 2nd. Barclays cut their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Susquehanna reduced their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley cut their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd . Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company’s stock. Intel currently has an average rating of “Hold” and an average price target of $31.96, according to MarketBeat.com.

Read our latest Intel analysis

Insider buying and selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Company insiders hold 0.04% of the company’s shares.

Intel Company Profile

(Free report)

Intel Corporation designs, develops, manufactures, markets and sells computers and related products and services worldwide. It operates through the Client Computing Group, Data Center and AI, Network and Edge, Mobileye and Intel Foundry Services segments. The company’s product portfolio includes central processing units and chipsets, system-on-chips (SoCs) and multi-chip packages; mobile and desktop processors; hardware products including 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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