Intel Co. (NASDAQ:INTC) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,360 shares of the chip maker’s stock after selling 3,023 shares during the quarter. Thrive Wealth Management LLC’s holdings in Intel were worth $220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTC. Vanguard Group Inc. boosted its stake in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares in the last quarter. Capital International Investors boosted its position in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA grew its holdings in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of INTC stock traded up $0.33 on Friday, hitting $22.59. 49,966,930 shares of the stock were exchanged, compared to its average volume of 59,307,754. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $96.17 billion, a PE ratio of 23.53 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm’s 50 day moving average is $21.64 and its two-hundred day moving average is $29.53.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.21%. Intel’s payout ratio is presently 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Susquehanna reduced their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Morgan Stanley cut their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group cut their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Six 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’s stock. According to MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $31.96.

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.