Thrive Wealth Management LLC Sells 3,023 Shares of Intel Co. (NASDAQ:INTC)

Thrive Wealth Management LLC lessened its position in Intel Co. (NASDAQ:INTC) by 24.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,360 shares of the chip maker’s stock after selling 3,023 shares during the period. Thrive Wealth Management LLC’s holdings in Intel were worth $220,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Exencial Wealth Advisors LLC grew its stake in Intel by 13.7% during the 4th quarter. Exencial Wealth Advisors LLC now owns 26,055 shares of the chip maker’s stock worth $1,309,000 after buying an additional 3,139 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Intel by 3.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 3,038,227 shares of the chip maker’s stock valued at $152,671,000 after purchasing an additional 103,919 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in Intel by 121.7% in the 4th quarter. Morningstar Investment Services LLC now owns 21,436 shares of the chip maker’s stock worth $1,080,000 after purchasing an additional 11,765 shares in the last quarter. Waterloo Capital L.P. purchased a new stake in Intel during the 4th quarter worth approximately $251,000. Finally, Westwood Holdings Group Inc. increased its stake in Intel by 2.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 74,291 shares of the chip maker’s stock valued at $3,733,000 after purchasing an additional 1,878 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.33 during midday trading on Friday, hitting $22.59. The stock had a trading volume of 49,966,930 shares, compared to its average volume of 59,307,754. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $21.64 and a 200-day simple moving average of $29.53. The company has a market capitalization of $96.17 billion, a PE ratio of 23.53 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion during 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Ratings Changes

INTC has been the subject of a number of research reports. Susquehanna lowered their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $31.96.

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.