Buckley Wealth Management LLC Sells 29,110 Shares of Intel Co. (NASDAQ:INTC)

Buckley Wealth Management LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 18.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 128,443 shares of the chip maker’s stock after selling 29,110 shares during the quarter. Intel comprises approximately 0.9% of Buckley Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Buckley Wealth Management LLC’s holdings in Intel were worth $3,013,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of INTC. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the 2nd quarter worth $2,178,000. Private Advisory Group LLC purchased a new position in Intel in the third quarter worth about $8,045,000. Brookstone Capital Management grew its stake in shares of Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares during the period. Sanibel Captiva Trust Company Inc. increased its position in shares of Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of Intel by 7.2% in the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after purchasing an additional 58,021 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTC. Wedbush cut their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Monday, September 23rd. Morgan Stanley cut their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.92.

Intel Price Performance

INTC traded up $0.33 during trading hours on Friday, hitting $22.77. The company’s stock had a trading volume of 39,971,695 shares, compared to its average volume of 58,832,660. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03. The business’s 50-day moving average price is $21.40 and its 200-day moving average price is $28.03. 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 Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

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

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Intel 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.