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Evercore Wealth Management LLC Sells 1,016 Shares of Intel Co. (NASDAQ:INTC)

Evercore Wealth Management LLC cut its holdings in Intel Co. (NASDAQ:INTCGet Rating) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 210,748 shares of the chip maker’s stock after selling 1,016 shares during the period. Evercore Wealth Management LLC’s holdings in Intel were worth $10,445,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Baldwin Brothers LLC MA increased its stake in shares of Intel by 1.8% in the first quarter. Baldwin Brothers LLC MA now owns 12,353 shares of the chip maker’s stock worth $612,000 after purchasing an additional 215 shares during the period. Kiley Juergens Wealth Management LLC increased its stake in shares of Intel by 0.6% in the first quarter. Kiley Juergens Wealth Management LLC now owns 33,917 shares of the chip maker’s stock worth $1,681,000 after purchasing an additional 216 shares during the period. Blue Bell Private Wealth Management LLC increased its stake in shares of Intel by 2.7% in the first quarter. Blue Bell Private Wealth Management LLC now owns 8,306 shares of the chip maker’s stock worth $412,000 after purchasing an additional 217 shares during the period. Lehman & Derafelo Financial Resources LLC increased its stake in shares of Intel by 4.2% in the first quarter. Lehman & Derafelo Financial Resources LLC now owns 5,483 shares of the chip maker’s stock worth $272,000 after purchasing an additional 223 shares during the period. Finally, Van Leeuwen & Company LLC increased its stake in shares of Intel by 2.6% in the fourth quarter. Van Leeuwen & Company LLC now owns 8,832 shares of the chip maker’s stock worth $455,000 after purchasing an additional 224 shares during the period. 61.52% of the stock is currently owned by institutional investors.

Intel Stock Up 0.3 %

NASDAQ:INTC opened at $31.56 on Tuesday. The stock’s fifty day moving average price is $35.70 and its two-hundred day moving average price is $41.35. Intel Co. has a 52-week low of $29.91 and a 52-week high of $56.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.86. The company has a market cap of $129.59 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 1.86 and a beta of 0.65.

Intel (NASDAQ:INTCGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The chip maker reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.41). Intel had a return on equity of 16.65% and a net margin of 26.03%. The firm had revenue of $15.30 billion for the quarter, compared to analyst estimates of $17.93 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s quarterly revenue was down 17.3% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post 2.25 EPS for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th were given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, August 5th. Intel’s payout ratio is 31.26%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 14,800 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was bought at an average price of $33.86 per share, for a total transaction of $501,128.00. Following the transaction, the chief executive officer now owns 77,216 shares of the company’s stock, valued at approximately $2,614,533.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on INTC shares. The Goldman Sachs Group set a $30.00 price target on Intel in a research note on Friday, July 29th. Susquehanna lowered their price target on Intel from $42.00 to $40.00 in a research note on Tuesday, July 19th. Morgan Stanley lowered their price target on Intel from $46.00 to $36.00 and set an “underweight” rating on the stock in a research note on Friday, July 29th. Barclays lowered their price target on Intel from $40.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday, July 29th. Finally, Rosenblatt Securities lowered their price target on Intel from $40.00 to $30.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.96.

Intel Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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