Patrick M Sweeney & Associates Inc. Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Patrick M Sweeney & Associates Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 14.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,315 shares of the chip maker’s stock after selling 1,951 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Intel were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INTC. Tributary Capital Management LLC bought a new stake in shares of Intel in the first quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel in the 1st quarter worth approximately $36,000. America First Investment Advisors LLC purchased a new position in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the second quarter valued at approximately $27,000. Finally, Spartan Fund Management Inc. bought a new stake in Intel in the second quarter valued at $31,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Intel Price Performance

Shares of INTC opened at $21.98 on Thursday. The firm has a fifty day simple moving average of $21.55 and a two-hundred day simple moving average of $27.67. The firm has a market cap of $93.57 billion, a PE ratio of 22.90 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last posted 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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. On average, equities analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.27%. Intel’s dividend payout ratio (DPR) is 52.08%.

Wall Street Analyst Weigh In

Several brokerages have commented on INTC. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday, August 2nd. Northland Securities reduced their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Roth Mkm lowered their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wedbush decreased their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six investment 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 stock. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus price target of $31.92.

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.