Argyle Capital Management Inc. Sells 1,200 Shares of Intel Co. (NASDAQ:INTC)

Argyle Capital Management Inc. lowered its position in Intel Co. (NASDAQ:INTC) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,333 shares of the chip maker’s stock after selling 1,200 shares during the quarter. Intel accounts for 2.5% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 4th biggest position. Argyle Capital Management Inc.’s holdings in Intel were worth $6,179,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cornerstone Capital Inc. lifted its stake in shares of Intel by 10.5% during the third quarter. Cornerstone Capital Inc. now owns 24,458 shares of the chip maker’s stock worth $1,266,000 after purchasing an additional 2,323 shares in the last quarter. Ethic Inc. lifted its stake in shares of Intel by 67.8% during the third quarter. Ethic Inc. now owns 36,427 shares of the chip maker’s stock worth $1,886,000 after purchasing an additional 14,724 shares in the last quarter. Court Place Advisors LLC lifted its stake in shares of Intel by 1.0% during the third quarter. Court Place Advisors LLC now owns 127,406 shares of the chip maker’s stock worth $6,597,000 after purchasing an additional 1,217 shares in the last quarter. Sonora Investment Management LLC lifted its stake in shares of Intel by 10.8% during the third quarter. Sonora Investment Management LLC now owns 105,740 shares of the chip maker’s stock worth $5,475,000 after purchasing an additional 10,264 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its stake in shares of Intel by 1.8% during the third quarter. Palisade Asset Management LLC now owns 155,038 shares of the chip maker’s stock worth $8,028,000 after purchasing an additional 2,699 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

In related news, EVP Navin Shenoy sold 2,847 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the transaction, the executive vice president now directly owns 71,807 shares of the company’s stock, valued at approximately $3,459,661.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin Thomas Mcbride sold 4,400 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $49.28, for a total value of $216,832.00. Following the completion of the transaction, the vice president now directly owns 14,214 shares of the company’s stock, valued at $700,465.92. The disclosure for this sale can be found here. Insiders sold a total of 7,491 shares of company stock valued at $365,878 over the last three months. Corporate insiders own 0.04% of the company’s stock.

INTC has been the topic of a number of recent research reports. BNP Paribas cut Intel from an “outperform” rating to an “underperform” rating in a research note on Friday, July 24th. Loop Capital reduced their price objective on Intel from $59.00 to $50.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Zacks Investment Research cut Intel from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Monday, July 27th. Roth Capital cut their price target on Intel from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, October 23rd. Finally, Mizuho cut their price target on Intel from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Thirteen equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company. Intel has an average rating of “Hold” and an average price target of $57.97.

NASDAQ:INTC opened at $44.25 on Thursday. The firm has a market capitalization of $181.34 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 1.50 and a beta of 0.72. The stock has a 50 day moving average of $51.00 and a 200-day moving average of $55.28. Intel Co. has a 52 week low of $43.63 and a 52 week high of $69.29. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 22nd. The chip maker reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.01. The company had revenue of $18.33 billion during the quarter, compared to analyst estimates of $18.26 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. As a group, analysts predict that Intel Co. will post 4.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, November 6th. Intel’s dividend payout ratio (DPR) is 27.10%.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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