Intel Co. (NASDAQ:INTC) Shares Sold by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. trimmed its position in Intel Co. (NASDAQ:INTC) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,778 shares of the chip maker’s stock after selling 727 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in Intel were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Norges Bank purchased a new position in shares of Intel during the 4th quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD grew its position in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. Capital International Investors increased its stake in shares of Intel by 16.0% in the 1st 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 raised its holdings 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 purchasing an additional 13,035,566 shares during the period. Finally, Davis Selected Advisers boosted its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’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 acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Down 0.5 %

Shares of NASDAQ INTC opened at $18.98 on Wednesday. The stock has a market cap of $81.16 billion, a P/E ratio of 19.77 and a beta of 1.03. The business’s fifty day simple moving average is $25.69 and its 200-day simple moving average is $32.09. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.63%. Intel’s payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INTC shares. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. TD Cowen decreased their price target on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Morgan Stanley reduced their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, UBS Group lowered their price target on Intel from $37.00 to $32.00 and set a “neutral” 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 issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.04.

Intel Company 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.