Founders Financial Securities LLC Sells 5,428 Shares of Intel Co. (NASDAQ:INTC)

Founders Financial Securities LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 15.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,953 shares of the chip maker’s stock after selling 5,428 shares during the quarter. Founders Financial Securities LLC’s holdings in Intel were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Intel during the fourth quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. Capital International Investors increased its position in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its holdings in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares during the period. Finally, Vanguard Group Inc. boosted its position in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after acquiring an additional 4,678,169 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Down 3.3 %

NASDAQ INTC opened at $19.43 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a 52 week low of $18.84 and a 52 week high of $51.28. The firm has a market capitalization of $82.71 billion, a price-to-earnings ratio of 20.24 and a beta of 1.05. The company has a fifty day moving average of $26.64 and a two-hundred day moving average of $32.85.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. On average, analysts predict that Intel Co. will post -0.46 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 price objective for the company. Finally, UBS Group cut their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six research 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.04.

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.