9258 Wealth Management LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

9258 Wealth Management LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,950 shares of the chip maker’s stock after selling 2,725 shares during the period. 9258 Wealth Management LLC’s holdings in Intel were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Burkett Financial Services LLC purchased a new position in Intel in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the 1st quarter worth approximately $27,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Intel during the 1st quarter worth approximately $36,000. Finally, Richardson Financial Services Inc. purchased a new stake in Intel during the fourth quarter valued at approximately $46,000. Institutional investors own 64.53% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.40 on Friday. The company has a market capitalization of $82.59 billion, a PE ratio of 20.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company’s fifty day moving average price is $26.41 and its 200 day moving average price is $32.76. Intel Co. has a 1 year low of $18.84 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the company earned ($0.05) earnings per share. The company’s revenue was down .8% compared to the same quarter last year. On average, research analysts predict that Intel Co. will post -0.46 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analysts Set New Price Targets

INTC has been the topic of several analyst reports. UBS Group cut their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Roth Mkm reduced their target price on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Truist Financial lowered their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Benchmark lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Six investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.04.

Intel 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.