Sugarloaf Wealth Management LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Sugarloaf Wealth Management LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 11.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,211 shares of the chip maker’s stock after selling 948 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Intel were worth $241,000 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. Venturi Wealth Management LLC bought a new position in shares of Intel during the 1st quarter valued at $32,000. Milestone Investment Advisors LLC bought a new position in shares of Intel during the 1st quarter valued at $32,000. Kepos Capital LP bought a new position in shares of Intel during the 4th quarter valued at $38,000. Ruedi Wealth Management Inc. bought a new position in shares of Intel during the 4th quarter valued at $40,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Intel during the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INTC. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a report on Thursday, July 27th. Truist Financial increased their target price on shares of Intel from $32.00 to $37.00 and gave the company a “hold” rating in a report on Friday, July 28th. TD Cowen raised their price target on shares of Intel from $31.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. BMO Capital Markets raised their price target on shares of Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Finally, Mizuho raised their price target on shares of Intel from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.55.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 3,850 shares of Intel stock in a transaction dated Wednesday, August 2nd. The stock was purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the purchase, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 3,850 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, the chief executive officer now owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger bought 3,250 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average price of $35.87 per share, with a total value of $116,577.50. Following the completion of the transaction, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

Intel stock traded down $0.62 during trading hours on Tuesday, hitting $37.37. The stock had a trading volume of 24,648,757 shares, compared to its average volume of 43,040,211. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $24.59 and a 12-month high of $40.07. The stock’s 50-day moving average price is $35.00 and its 200-day moving average price is $32.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. The firm had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.03 billion. Equities analysts predict that Intel Co. will post -0.11 EPS for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.34%. Intel’s dividend payout ratio is presently -227.26%.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.