Tompkins Financial Corp Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Tompkins Financial Corp reduced its stake in Intel Co. (NASDAQ:INTC) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,041 shares of the chip maker’s stock after selling 5,164 shares during the period. Tompkins Financial Corp’s holdings in Intel were worth $1,740,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of Intel by 43.7% in 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 period. Avaii Wealth Management LLC acquired a new stake in shares of Intel in the first quarter valued at approximately $354,000. ProShare Advisors LLC boosted its holdings 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 acquiring an additional 483,917 shares during the period. Spire Wealth Management boosted its holdings 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 acquiring 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 approximately $12,023,000. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on INTC. Barclays increased their price objective on Intel from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Jefferies Financial Group increased their price target on Intel from $32.00 to $35.00 in a report on Thursday, June 22nd. Susquehanna increased their price target on Intel from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. UBS Group increased their price target on Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Finally, Morgan Stanley decreased their price target on Intel from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Six 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. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $33.55.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the stock in a transaction on Wednesday, August 2nd. The stock was bought at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the acquisition, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Patrick P. Gelsinger acquired 3,250 shares of Intel stock in a transaction dated Monday, July 31st. The shares were 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 of the company’s stock, valued at approximately $5,011,577.05. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel stock in a transaction dated Wednesday, August 2nd. The stock was purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the purchase, the chief executive officer now directly 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 company insiders.

Intel Stock Down 1.8 %

Intel stock traded down $0.68 during midday trading on Tuesday, reaching $37.31. 8,939,028 shares of the company were exchanged, compared to its average volume of 42,945,500. The firm’s 50-day simple moving average is $35.00 and its 200-day simple moving average is $32.28. Intel Co. has a 1 year low of $24.59 and a 1 year high of $40.07. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44.

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

Intel Dividend Announcement

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

About Intel

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.