Curbstone Financial Management Corp Sells 1,164 Shares of Intel Co. (NASDAQ:INTC)

Curbstone Financial Management Corp reduced its position in shares of Intel Co. (NASDAQ:INTC) by 1.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,051 shares of the chip maker’s stock after selling 1,164 shares during the quarter. Curbstone Financial Management Corp’s holdings in Intel were worth $2,376,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in Intel in the 1st quarter worth about $32,000. Milestone Investment Advisors LLC bought a new stake in Intel in the 1st quarter worth approximately $32,000. Kepos Capital LP purchased a new stake in Intel during the 4th quarter valued at $38,000. Ruedi Wealth Management Inc. bought a new position in shares of Intel during the 4th quarter valued at $40,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Intel in the first quarter worth about $41,000. 60.84% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of NASDAQ:INTC traded down $0.13 during midday trading on Thursday, reaching $38.58. The company’s stock had a trading volume of 6,630,914 shares, compared to its average volume of 42,935,258. Intel Co. has a twelve month low of $24.59 and a twelve month high of $40.07. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $34.74 and a 200 day moving average of $32.05. The firm has a market capitalization of $161.57 billion, a PE ratio of -175.95 and a beta of 0.89.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. The company had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.03 billion. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. On average, equities analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.50 annualized dividend and a yield of 1.30%. Intel’s dividend payout ratio (DPR) is presently -227.27%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger bought 3,850 shares of Intel stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $34.63 per share, with a total value 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 $3,653,291.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,250 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the acquisition, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of recent research reports. Wedbush raised their target price on Intel from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. UBS Group boosted their price target on Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Wolfe Research lifted their price target on shares of Intel from $27.00 to $31.00 and gave the company an “underperform” rating in a report on Friday, July 28th. Wells Fargo & Company dropped their price objective on shares of Intel from $40.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Finally, Stifel Nicolaus lifted their price objective on Intel from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, July 28th. Six research 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.55.

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.