Whitener Capital Management Inc. Sells 1,715 Shares of Intel Co. (NASDAQ:INTC)

Whitener Capital Management Inc. lessened its position in Intel Co. (NASDAQ:INTC) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,681 shares of the chip maker’s stock after selling 1,715 shares during the period. Whitener Capital Management Inc.’s holdings in Intel were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Psagot Value Holdings Ltd. Israel increased its holdings in Intel by 43.7% in the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock worth $142,000 after purchasing an additional 1,356 shares in the last quarter. Avaii Wealth Management LLC acquired a new position in Intel in the 1st quarter worth about $354,000. ProShare Advisors LLC increased its stake in shares of Intel by 11.3% in the first quarter. ProShare Advisors LLC now owns 4,754,164 shares of the chip maker’s stock valued at $155,319,000 after buying an additional 483,917 shares during the period. Spire Wealth Management increased its stake in shares of Intel by 27.7% in the first quarter. Spire Wealth Management now owns 40,570 shares of the chip maker’s stock valued at $1,325,000 after buying an additional 8,790 shares during the period. Finally, Nishkama Capital LLC acquired a new stake in shares of Intel in the first quarter valued at about $12,023,000. Institutional investors and hedge funds own 60.84% of the company’s stock.

Intel Trading Down 1.6 %

Shares of INTC stock traded down $0.62 during trading hours on Tuesday, reaching $37.37. The company had a trading volume of 23,544,770 shares, compared to its average volume of 43,031,266. Intel Co. has a 12 month low of $24.59 and a 12 month high of $40.07. 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 business has a fifty day simple moving average of $35.00 and a 200-day simple moving average of $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, beating analysts’ consensus estimates 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 company had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.03 billion. Analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Intel Dividend Announcement

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

Insider Activity at Intel

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTC. Wells Fargo & Company decreased their price target on Intel from $40.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Robert W. Baird increased their price target on Intel from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Susquehanna increased their price target on Intel from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Wedbush increased their price target on Intel from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Finally, Evercore ISI increased their price target on Intel from $36.00 to $40.00 and gave the company an “in-line” rating in a research note 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.