Commonwealth Financial Services LLC Sells 1,677 Shares of Intel Co. (NASDAQ:INTC)

Commonwealth Financial Services LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,020 shares of the chip maker’s stock after selling 1,677 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Intel were worth $680,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. America First Investment Advisors LLC purchased a new position in Intel during the 2nd quarter valued at approximately $25,000. Burkett Financial Services LLC bought a new position in shares of Intel during the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the first quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new stake in Intel in the second quarter worth $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in Intel during the second quarter valued at $31,000. 64.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

Intel Stock Performance

Shares of Intel stock opened at $21.84 on Monday. The stock’s fifty day moving average price is $23.67 and its 200-day moving average price is $30.80. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The firm has a market cap of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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

Intel Announces Dividend

The business also recently disclosed 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 yield of 2.29%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Morgan Stanley dropped their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Susquehanna dropped their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group reduced 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 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.04.

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.