Wagner Wealth Management LLC Lowers Position in Intel Co. (NASDAQ:INTC)

Wagner Wealth Management LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 25.6% in the third quarter, Holdings Channel reports. The institutional investor owned 13,546 shares of the chip maker’s stock after selling 4,658 shares during the period. Wagner Wealth Management LLC’s holdings in Intel were worth $318,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Capital International Investors boosted its stake in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Van ECK Associates Corp grew its stake in Intel by 60.5% in the second 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 in the last quarter. Davis Selected Advisers grew its stake in Intel by 86.2% in 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. Caxton Associates LP bought a new stake in Intel during the 2nd quarter valued at $162,592,000. Finally, Vanguard Group Inc. boosted its position in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after acquiring an additional 4,678,169 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 1.5 %

NASDAQ INTC traded up $0.34 during trading hours on Friday, hitting $23.56. 43,585,252 shares of the company’s stock were exchanged, compared to its average volume of 59,055,309. The stock has a 50-day simple moving average of $21.12 and a 200 day simple moving average of $28.78. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm has a market cap of $100.29 billion, a price-to-earnings ratio of 24.54 and a beta of 1.03. 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 announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued 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 2.12%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Susquehanna dropped their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel has a consensus rating of “Hold” and an average price target 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.