Mattern Wealth Management LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Mattern Wealth Management LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,673 shares of the chip maker’s stock after selling 1,995 shares during the quarter. Mattern Wealth Management LLC’s holdings in Intel were worth $1,237,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Modus Advisors LLC acquired a new position in shares of Intel in the 2nd quarter worth approximately $25,000. Price Wealth LLC grew its position in shares of Intel by 119.5% in the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock worth $28,000 after acquiring an additional 251 shares in the last quarter. Lion Street Advisors LLC acquired a new position in shares of Intel in the 1st quarter worth approximately $29,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Intel in the 2nd quarter worth approximately $60,000. Finally, Horan Securities Inc. acquired a new position in shares of Intel in the 1st quarter worth approximately $66,000. Institutional investors own 64.95% of the company’s stock.

INTC opened at $47.73 on Friday. The company has a market cap of $204.10 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78. The stock has a 50-day moving average of $58.00 and a 200-day moving average of $59.19. Intel Co. has a 52-week low of $43.63 and a 52-week high of $69.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.58 and a current ratio of 1.97.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.12. The company had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same quarter in the prior year, the company posted $1.06 EPS. On average, research analysts predict that Intel Co. will post 4.85 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. Intel’s dividend payout ratio is presently 27.10%.

Several research analysts have recently commented on the company. Credit Suisse Group decreased their target price on Intel from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. SunTrust Banks boosted their price objective on Intel from $58.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, April 24th. Exane BNP Paribas lowered Intel from an “outperform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a research report on Friday, July 24th. Jefferies Financial Group boosted their price objective on Intel from $53.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Finally, ValuEngine lowered Intel from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Twelve equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.67.

In related news, EVP Navin Shenoy sold 7,018 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $59.83, for a total transaction of $419,886.94. Following the completion of the transaction, the executive vice president now owns 68,942 shares of the company’s stock, valued at approximately $4,124,799.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Holmes Swan acquired 8,021 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were acquired at an average cost of $50.00 per share, with a total value of $401,050.00. Following the transaction, the chief executive officer now directly owns 293,594 shares in the company, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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