Intel Co. (NASDAQ:INTC) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 53.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,822 shares of the chip maker’s stock after selling 12,446 shares during the period. Clearstead Trust LLC’s holdings in Intel were worth $335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. America First Investment Advisors LLC acquired a new position in Intel during the second quarter worth $25,000. Frazier Financial Advisors LLC acquired a new position in Intel during the fourth quarter worth $27,000. Burkett Financial Services LLC acquired a new position in Intel during the fourth quarter worth $27,000. Tributary Capital Management LLC acquired a new position in Intel during the first quarter worth $27,000. Finally, Spartan Fund Management Inc. acquired a new stake in Intel in the second quarter valued at $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $20.91 on Tuesday. The firm has a market capitalization of $89.41 billion, a PE ratio of 21.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The business has a 50-day moving average of $24.71 and a two-hundred day moving average of $31.45. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.39%. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on INTC. Susquehanna lowered their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $22.00 in a report on Thursday, August 8th. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald lowered their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Profile

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.