Mattern Wealth Management LLC Sells 1,763 Shares of Intel Co. (NASDAQ:INTC)

Mattern Wealth Management LLC decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,735 shares of the chip maker’s stock after selling 1,763 shares during the quarter. Mattern Wealth Management LLC’s holdings in Intel were worth $275,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors grew 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 purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp increased its stake in Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Intel in the second quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Intel by 2,681.1% in 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 last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Wedbush cut their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.92.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

INTC stock traded down $0.56 during trading on Tuesday, hitting $22.28. 15,319,697 shares of the company traded hands, compared to its average volume of 58,522,781. 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 1 year low of $18.51 and a 1 year high of $51.28. The stock’s 50-day simple moving average is $21.47 and its 200 day simple moving average is $27.82. The company has a market cap of $94.85 billion, a PE ratio of 23.38 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. On average, equities analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company 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. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.24%. Intel’s payout ratio is presently 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.