SlateStone Wealth LLC Sells 40,677 Shares of Intel Co. (NASDAQ:INTC)

SlateStone Wealth LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 38.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,104 shares of the chip maker’s stock after selling 40,677 shares during the quarter. SlateStone Wealth LLC’s holdings in Intel were worth $2,016,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in INTC. Frazier Financial Advisors LLC acquired a new position in shares of Intel during the 4th quarter worth about $27,000. Burkett Financial Services LLC acquired a new position in shares of Intel during the 4th quarter worth about $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the 1st quarter worth about $27,000. Triad Wealth Partners LLC acquired a new position in shares of Intel in the 2nd quarter worth approximately $33,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Intel in the 1st quarter worth approximately $36,000. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Intel in a research report on Monday, May 13th. They set a “hold” rating and a $34.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Cowen decreased their price target on Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.04.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average price 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 in the company, valued at approximately $765,576. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Down 2.0 %

Shares of Intel stock traded down $0.41 during trading on Monday, hitting $20.13. The company’s stock had a trading volume of 58,430,038 shares, compared to its average volume of 52,876,289. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a 52 week low of $18.84 and a 52 week high of $51.28. The stock has a market cap of $85.69 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The stock has a 50-day moving average price of $28.06 and a two-hundred day moving average price of $33.92.

Intel (NASDAQ:INTC) 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). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. Equities research analysts anticipate that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently declared 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. This represents a $0.50 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.