HB Wealth Management LLC Sells 7,977 Shares of Intel Co. (NASDAQ:INTC)

HB Wealth Management LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,822 shares of the chip maker’s stock after selling 7,977 shares during the period. HB Wealth Management LLC’s holdings in Intel were worth $4,857,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of INTC. Orion Portfolio Solutions LLC increased its position in shares of Intel by 3.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after purchasing an additional 2,915 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after acquiring an additional 27,274 shares in the last quarter. Trexquant Investment LP increased its holdings in Intel by 69.0% during the 4th quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock valued at $3,574,000 after purchasing an additional 29,040 shares in the last quarter. NBC Securities Inc. raised its position in Intel by 2.6% in the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after purchasing an additional 418 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Intel in the fourth quarter worth $501,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and cut their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Northland Securities decreased their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Stock Up 2.7 %

Intel stock traded up $0.53 during mid-day trading on Thursday, reaching $20.14. The company’s stock had a trading volume of 12,669,396 shares, compared to its average volume of 52,571,867. The business’s 50 day simple moving average is $27.63 and its 200 day simple moving average is $33.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The company has a market capitalization of $85.74 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

About Intel

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.