Intel Co. (NASDAQ:INTC) Stake Reduced by Tompkins Financial Corp

Tompkins Financial Corp reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,041 shares of the chip maker’s stock after selling 5,164 shares during the quarter. Tompkins Financial Corp’s holdings in Intel were worth $1,740,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Intel by 0.8% during the 1st quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock worth $5,858,347,000 after acquiring an additional 1,447,881 shares during the period. Geode Capital Management LLC boosted its position in Intel by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 82,728,971 shares of the chip maker’s stock worth $2,696,916,000 after acquiring an additional 512,209 shares during the period. Morgan Stanley boosted its position in Intel by 29.8% during the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after acquiring an additional 12,241,200 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Intel by 100,953.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after acquiring an additional 51,083,262 shares during the period. Finally, Norges Bank acquired a new position in Intel during the 4th quarter worth $1,092,939,000. 60.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INTC shares. Needham & Company LLC boosted their price target on Intel from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Citigroup upped their price objective on Intel from $29.50 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, July 18th. BMO Capital Markets upped their price objective on Intel from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 28th. UBS Group upped their price objective on Intel from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Finally, Barclays upped their price objective on Intel from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.55.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 3,850 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $34.63 per share, with a total value of $133,325.50. Following the transaction, the chief executive officer now directly owns 105,495 shares in the company, valued at approximately $3,653,291.85. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 3,250 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the purchase, the chief executive officer now owns 139,715 shares in the company, valued at approximately $5,011,577.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 3,850 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average price of $34.63 per share, with a total value of $133,325.50. Following the purchase, the chief executive officer now owns 105,495 shares in the company, valued at approximately $3,653,291.85. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Intel Price Performance

NASDAQ:INTC traded down $0.68 during trading hours on Tuesday, hitting $37.31. 8,939,028 shares of the company’s stock traded hands, compared to its average volume of 42,945,500. Intel Co. has a twelve month low of $24.59 and a twelve month high of $40.07. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $35.00 and its two-hundred day moving average price is $32.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The company had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.03 billion. On average, sell-side analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, August 4th. Intel’s payout ratio is currently -227.26%.

Intel Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.