Intel Co. (NASDAQ:INTC) position was reduced by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC reduced its position in shares of Intel Co. (NASDAQ:INTC – Free Report ) by 38.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,958 shares of the chip maker’s stock after selling 20,228 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Intel were worth $990,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in Intel in the fourth quarter valued at about $27,000. Burkett Financial Services LLC purchased a new position in shares of Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the first quarter worth $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Intel in the first quarter valued at $36,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of Intel in the 4th quarter valued at $37,000. 64.53% of the shares are currently held by institutional investors and hedge funds.

Insider work at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.04% of shares are held by corporate insiders.

Intel trading down 4.2%

NASDAQ:INTC opened at $18.99 on Thursday. The company’s 50-day moving average is $30.69 and its 200-day moving average is $36.20. The company has a quick ratio of 1.14, a current ratio of 1.57, and a debt-to-equity ratio of 0.43. Intel Co. has a 12-month low of $18.95 and a 12-month high of $51.28. The firm has a market cap of $80.84 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC – Get Your Free Report ) last posted 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 firm 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 1.82%. The company’s quarterly revenue was down 0.8% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of ($0.05). Stock analysts anticipate that Intel Co. will record 0.07 EPS for the current year.

Intel announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7. This represents an annualized dividend of $0.50 and a dividend yield of 2.63%. Intel’s dividend payout ratio is currently 52.08%.

The Wall Street analyst weighs in

INTC has been the subject of several analyst reports. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Northland Securities cut their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Goldman Sachs Group cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.04, according to MarketBeat.com.

Check out our latest research report on Intel

About Intel

(Free Report)

Intel Corporation designs, develops, manufactures, markets and sells computers and related products and services worldwide. It operates through the Client Computing Group, Data Center and AI, Network and Edge, Mobileye and Intel Foundry Services segments. The company’s product portfolio includes central processing units and chipsets, system-on-chips (SoCs) and multi-chip packages; mobile and desktop processors; hardware products including graphics processing units (GPUs), domain-specific accelerators and field-programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.

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