Planned Solutions Inc. cut its holdings in shares of Intel Co. (NASDAQ:INTC – Free Report) by 30.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,354 shares of the chip maker’s stock after selling 3,150 shares during the quarter. Planned Solutions Inc.’s holdings in Intel were worth $246,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Intel by 43.7% during the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock valued at $142,000 after buying an additional 1,356 shares during the last quarter. Avaii Wealth Management LLC bought a new position in shares of Intel in the 1st quarter valued at approximately $354,000. ProShare Advisors LLC raised its stake in shares of Intel by 11.3% in the 1st quarter. ProShare Advisors LLC now owns 4,754,164 shares of the chip maker’s stock valued at $155,319,000 after acquiring an additional 483,917 shares in the last quarter. Spire Wealth Management raised its stake in shares of Intel by 27.7% in the 1st quarter. Spire Wealth Management now owns 40,570 shares of the chip maker’s stock valued at $1,325,000 after acquiring an additional 8,790 shares in the last quarter. Finally, Nishkama Capital LLC bought a new position in shares of Intel in the 1st quarter valued at approximately $12,023,000. 60.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
INTC has been the topic of several recent analyst reports. Evercore ISI lifted their price target on Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Friday, July 28th. Wolfe Research boosted their price objective on Intel from $27.00 to $31.00 and gave the company an “underperform” rating in a research report on Friday, July 28th. Citigroup boosted their price objective on Intel from $29.50 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, July 18th. Raymond James boosted their price objective on Intel from $35.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, July 28th. Six investment 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.55.
In other Intel news, CEO Patrick P. Gelsinger acquired 3,850 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $34.63 per share, with a total value of $133,325.50. Following the completion of the transaction, the chief executive officer now directly owns 105,495 shares in the company, valued at approximately $3,653,291.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Patrick P. Gelsinger bought 3,250 shares of the stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the purchase, the chief executive officer now owns 139,715 shares in the company, valued at $5,011,577.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of the business’s 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 acquisition, the chief executive officer now owns 105,495 shares in the company, valued at $3,653,291.85. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.
Intel Stock Down 0.1 %
Shares of INTC stock traded down $0.03 on Monday, hitting $37.85. 3,485,137 shares of the stock were exchanged, compared to its average volume of 42,996,734. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $158.52 billion, a P/E ratio of -172.17 and a beta of 0.89. The business has a 50-day moving average of $35.00 and a 200 day moving average of $32.28. Intel Co. has a fifty-two week low of $24.59 and a fifty-two week high of $40.07.
Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $12.95 billion during the quarter, compared to analysts’ expectations of $12.03 billion. Equities analysts anticipate that Intel Co. will post -0.11 EPS for the current year.
Intel Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were given a $0.125 dividend. The ex-dividend date was Friday, August 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.32%. Intel’s payout ratio is -227.26%.
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.
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