Transcend Capital Advisors LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Transcend Capital Advisors LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 7.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 69,973 shares of the chip maker’s stock after selling 5,428 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intel were worth $2,340,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lumature Wealth Partners LLC increased its holdings in Intel by 146.7% in the 1st quarter. Lumature Wealth Partners LLC now owns 824 shares of the chip maker’s stock worth $41,000 after buying an additional 490 shares in the last quarter. Quilter Plc bought a new position in Intel in the first quarter valued at about $869,868,000. Mach 1 Financial Group LLC bought a new stake in shares of Intel during the 1st quarter valued at about $14,880,000. Aspire Private Capital LLC purchased a new stake in shares of Intel during the 1st quarter valued at about $31,446,116,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Intel in the 1st quarter worth approximately $32,000. 60.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INTC shares. StockNews.com began coverage on shares of Intel in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Wolfe Research increased their price objective on shares of Intel from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, July 28th. Citigroup increased their price objective on shares of Intel from $29.50 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. TD Cowen lifted their target price on Intel from $31.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Finally, Wedbush boosted their price target on shares of Intel from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Six analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.55.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average price 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 in the company, valued at approximately $3,653,291.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Patrick P. Gelsinger bought 3,850 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were bought 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 directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired 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. 0.04% of the stock is currently owned by company insiders.

Intel Stock Down 1.8 %

Intel stock traded down $0.68 during trading on Tuesday, reaching $37.31. The company had a trading volume of 26,760,968 shares, compared to its average volume of 43,049,480. The firm’s 50-day simple moving average is $35.00 and its 200 day simple moving average is $32.28. Intel Co. has a 1-year low of $24.59 and a 1-year high of $40.07. 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 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%. Sell-side analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were given 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 1.34%. Intel’s payout ratio is -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.