Sugarloaf Wealth Management LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

Sugarloaf Wealth Management LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 11.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,211 shares of the chip maker’s stock after selling 948 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Intel were worth $241,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Frontier Wealth Management LLC boosted its stake in shares of Intel by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock valued at $2,181,000 after buying an additional 253 shares in the last quarter. West Michigan Advisors LLC boosted its stake in shares of Intel by 5.4% in the first quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock valued at $255,000 after buying an additional 262 shares in the last quarter. Retirement Income Solutions Inc boosted its stake in shares of Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares in the last quarter. CFO4Life Group LLC boosted its stake in shares of Intel by 2.3% in the first quarter. CFO4Life Group LLC now owns 15,770 shares of the chip maker’s stock valued at $515,000 after buying an additional 348 shares in the last quarter. Finally, Legacy Private Trust Co. boosted its stake in shares of Intel by 2.7% in the second quarter. Legacy Private Trust Co. now owns 13,124 shares of the chip maker’s stock valued at $439,000 after buying an additional 350 shares in the last quarter. 60.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on INTC. Citigroup boosted their target price on Intel from $29.50 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 18th. Barclays boosted their price target on Intel from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. BMO Capital Markets boosted their price target on Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Needham & Company LLC boosted their price target on Intel from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Truist Financial boosted their price target on Intel from $32.00 to $37.00 and gave the stock a “hold” 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.55.

Intel Stock Performance

Shares of Intel stock traded down $0.62 on Tuesday, reaching $37.37. 24,648,757 shares of the company were exchanged, 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. The company’s 50-day moving average is $35.00 and its two-hundred day moving average is $32.28. Intel Co. has a 1-year low of $24.59 and a 1-year high of $40.07.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The firm had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.03 billion. On average, equities research analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Intel Announces Dividend

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

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 3,250 shares of Intel stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $35.87 per share, with a total value of $116,577.50. Following the purchase, the chief executive officer now directly owns 139,715 shares in the company, valued at approximately $5,011,577.05. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger acquired 3,250 shares of Intel stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $35.87 per share, with a total value of $116,577.50. Following the purchase, the chief executive officer now directly owns 139,715 shares in the company, valued at approximately $5,011,577.05. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average cost of $34.63 per share, with a total value of $133,325.50. Following the completion of the purchase, the chief executive officer now owns 105,495 shares in the company, valued at $3,653,291.85. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

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.