Daymark Wealth Partners LLC Cuts Position in Intel Co. (NASDAQ:INTC)

Daymark Wealth Partners LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 317,225 shares of the chip maker’s stock after selling 49,449 shares during the period. Daymark Wealth Partners LLC’s holdings in Intel were worth $7,442,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Tributary Capital Management LLC purchased a new position in Intel during the first quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Intel in the 1st quarter worth about $36,000. America First Investment Advisors LLC bought a new position in Intel in the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter valued at about $27,000. Finally, Richardson Financial Services Inc. bought a new stake in Intel during the 4th quarter valued at about $46,000. 64.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Wedbush reduced their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. UBS Group lowered their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $31.96.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased 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 in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.04 on Wednesday, reaching $23.28. The company’s stock had a trading volume of 14,253,841 shares, compared to its average volume of 59,051,629. The company has a 50-day simple moving average of $21.34 and a 200 day simple moving average of $29.08. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market cap of $99.10 billion, a P/E ratio of 24.19 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted 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 company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. As a group, equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.15%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

About Intel

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.