Mechanics Bank Trust Department Sells 2,635 Shares of Intel Co. (NASDAQ:INTC)

Mechanics Bank Trust Department lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,595 shares of the chip maker’s stock after selling 2,635 shares during the period. Mechanics Bank Trust Department’s holdings in Intel were worth $1,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Venturi Wealth Management LLC purchased a new position in shares of Intel in the 1st quarter worth $32,000. Milestone Investment Advisors LLC purchased a new position in Intel during the first quarter valued at $32,000. Kepos Capital LP bought a new stake in Intel during the fourth quarter valued at about $38,000. Ruedi Wealth Management Inc. bought a new stake in Intel during the fourth quarter valued at about $40,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Intel during the first quarter valued at about $41,000. Institutional investors own 60.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on INTC. Evercore ISI raised their price target on Intel from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Friday, July 28th. UBS Group lifted their target price on Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Intel from $32.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, July 28th. 22nd Century Group reaffirmed a “reiterates” rating on shares of Intel in a report on Wednesday, May 31st. Finally, BMO Capital Markets lifted their target price on Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Six analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.55.

Intel Stock Down 2.0 %

Shares of NASDAQ INTC opened at $37.88 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.60. The firm has a market capitalization of $158.64 billion, a price-to-earnings ratio of -172.17 and a beta of 0.89. The stock has a 50 day moving average price of $35.00 and a 200 day moving average price of $32.23. Intel Co. has a 52-week low of $24.59 and a 52-week high of $40.07.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The firm 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%. Sell-side analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders 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 yield of 1.32%. Intel’s dividend payout ratio is currently -227.26%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction on Wednesday, August 2nd. The stock was bought at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the acquisition, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction on Wednesday, August 2nd. The stock was bought at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the acquisition, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of Intel stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the transaction, the chief executive officer now 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. 0.04% of the stock is owned by company insiders.

Intel Company Profile

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.