Occidental Asset Management LLC Sells 1,833 Shares of Intel Co. (NASDAQ:INTC)

Occidental Asset Management LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 14.7% in the second quarter, HoldingsChannel.com reports. The fund owned 10,621 shares of the chip maker’s stock after selling 1,833 shares during the period. Occidental Asset Management LLC’s holdings in Intel were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel raised its stake in shares of Intel by 43.7% during the first quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock valued at $142,000 after acquiring an additional 1,356 shares during the last quarter. Avaii Wealth Management LLC bought a new position in shares of Intel during the first quarter valued at $354,000. ProShare Advisors LLC raised its stake in shares of Intel by 11.3% during the first quarter. ProShare Advisors LLC now owns 4,754,164 shares of the chip maker’s stock valued at $155,319,000 after acquiring an additional 483,917 shares during the last quarter. Spire Wealth Management raised its stake in shares of Intel by 27.7% during the first quarter. Spire Wealth Management now owns 40,570 shares of the chip maker’s stock valued at $1,325,000 after acquiring an additional 8,790 shares during the last quarter. Finally, Nishkama Capital LLC bought a new position in shares of Intel during the first quarter valued at $12,023,000. Institutional investors own 60.84% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $37.99 on Tuesday. 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 52 week low of $24.59 and a 52 week high of $40.07. The firm’s 50-day simple moving average is $35.00 and its two-hundred day simple moving average is $32.28.

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

Intel Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.32%. Intel’s payout ratio is -227.26%.

Insider Transactions at Intel

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INTC shares. Needham & Company LLC raised their price target on shares of Intel from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Intel from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, July 28th. Robert W. Baird increased their price objective on shares of Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Wells Fargo & Company decreased their price objective on shares of Intel from $40.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, July 28th. Finally, Evercore ISI increased their price objective on shares of Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.55.

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.