Nwam LLC Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Nwam LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 12.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,890 shares of the chip maker’s stock after selling 4,758 shares during the quarter. Nwam LLC’s holdings in Intel were worth $1,140,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of INTC. Venturi Wealth Management LLC acquired a new position in shares of Intel in the first quarter valued at about $32,000. Kepos Capital LP acquired a new position in Intel in the 4th quarter worth approximately $38,000. Ruedi Wealth Management Inc. purchased a new position in Intel during the 4th quarter worth approximately $40,000. China Universal Asset Management Co. Ltd. acquired a new stake in Intel during the 1st quarter valued at approximately $41,000. Finally, Lumature Wealth Partners LLC boosted its holdings in shares of Intel by 146.7% in the 1st quarter. Lumature Wealth Partners LLC now owns 824 shares of the chip maker’s stock valued at $41,000 after acquiring an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research reports. TD Cowen boosted their target price on shares of Intel from $31.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Robert W. Baird raised their price objective on shares of Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Evercore ISI boosted their target price on shares of Intel from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets upped their price objective on shares of Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.55.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 3,850 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was bought at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the purchase, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 3,850 shares of Intel stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the acquisition, the chief executive officer now owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $35.87 per share, with a total value of $116,577.50. Following the completion of the acquisition, the chief executive officer now owns 139,715 shares in the company, valued at approximately $5,011,577.05. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 38,500,002 shares of company stock valued at $1,572,340,065. 0.04% of the stock is currently owned by company insiders.

Intel Stock Performance

INTC opened at $38.18 on Friday. Intel Co. has a 1-year low of $24.59 and a 1-year high of $38.34. The stock has a market cap of $159.90 billion, a P/E ratio of -173.54 and a beta of 0.89. The stock’s 50 day simple moving average is $34.32 and its 200 day simple moving average is $31.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The business had revenue of $12.95 billion during the quarter, compared to analysts’ expectations of $12.03 billion. As a group, equities analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.31%. Intel’s dividend payout ratio (DPR) is presently -227.26%.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.