Ignite Planners LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Ignite Planners LLC cut its position in Intel Co. (NASDAQ:INTC) by 12.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,140 shares of the chip maker’s stock after selling 1,616 shares during the period. Ignite Planners LLC’s holdings in Intel were worth $261,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of INTC. Adirondack Trust Co. raised its position in Intel by 0.5% during the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock worth $2,287,000 after buying an additional 278 shares during the last quarter. Abacus Wealth Partners LLC grew its position in Intel by 6.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after purchasing an additional 286 shares during the period. First Affirmative Financial Network raised its position in Intel by 1.8% during the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock valued at $734,000 after acquiring an additional 299 shares in the last quarter. VERITY Wealth Advisors increased its holdings in shares of Intel by 3.8% during the 1st quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock valued at $373,000 after purchasing an additional 312 shares in the last quarter. Finally, Mechanics Bank Trust Department increased its holdings in Intel by 0.8% in the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after buying an additional 320 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ INTC opened at $23.32 on Wednesday. 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 has a market capitalization of $99.27 billion, a PE ratio of 24.29 and a beta of 1.03. The company has a fifty day moving average of $21.47 and a two-hundred day moving average of $29.21. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results 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). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INTC shares. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. UBS Group lowered their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Barclays lowered their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.96.

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.