Modera Wealth Management LLC Sells 1,015 Shares of Intel Co. (NASDAQ:INTC)

Modera Wealth Management LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,831 shares of the chip maker’s stock after selling 1,015 shares during the period. Modera Wealth Management LLC’s holdings in Intel were worth $2,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the fourth quarter worth $27,000. Burkett Financial Services LLC acquired a new position in Intel during the 4th quarter worth about $27,000. Tributary Capital Management LLC bought a new stake in Intel during the 1st quarter worth about $27,000. Financial Connections Group Inc. acquired a new stake in Intel in the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel in the second quarter worth about $33,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Up 9.5 %

NASDAQ:INTC traded up $1.91 on Friday, reaching $22.04. The company’s stock had a trading volume of 177,563,785 shares, compared to its average volume of 53,623,316. The firm has a market cap of $93.82 billion, a PE ratio of 22.96, a PEG ratio of 17.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The business’s 50-day moving average price is $27.24 and its two-hundred day moving average price is $33.41. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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). The business 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 1.82%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Equities research analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.27%. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

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

Wall Street Analyst Weigh In

Several research firms have recently commented on INTC. Barclays decreased their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Northland Securities decreased their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. HSBC cut Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.04.

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.