Modera Wealth Management LLC Sells 23,355 Shares of Intel Co. (NASDAQ:INTC)

Modera Wealth Management LLC cut its position in Intel Co. (NASDAQ:INTC) by 31.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,476 shares of the chip maker’s stock after selling 23,355 shares during the period. Modera Wealth Management LLC’s holdings in Intel were worth $1,208,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its stake in Intel by 16.0% in 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 raised its position in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers raised its holdings in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Caxton Associates LP acquired a new position in Intel in the second quarter valued at about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on INTC shares. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a report on Friday. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.80.

Intel Stock Performance

Shares of INTC stock opened at $22.92 on Tuesday. The stock has a market capitalization of $97.57 billion, a PE ratio of 23.88 and a beta of 1.03. The business’s 50 day simple moving average is $21.65 and its 200 day simple moving average is $27.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a one year low of $18.51 and a one 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

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.