EP Wealth Advisors LLC Sells 20,052 Shares of Intel Co. (NASDAQ:INTC)

EP Wealth Advisors LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 16.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,379 shares of the chip maker’s stock after selling 20,052 shares during the period. EP Wealth Advisors LLC’s holdings in Intel were worth $3,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new stake in shares of Intel in the second quarter valued at approximately $25,000. Tributary Capital Management LLC bought a new position in shares of Intel in the first quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter valued at about $27,000. Spartan Fund Management Inc. bought a new stake in Intel during the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new position in Intel in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTC. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Finally, Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Trading Down 1.9 %

INTC opened at $23.46 on Tuesday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. 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 company’s 50-day moving average is $22.38 and its 200 day moving average is $29.91. The firm has a market capitalization of $99.87 billion, a PE ratio of 24.44 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued 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). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. As a group, research analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following 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 document filed with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Intel Company 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.