Intel Co. (NASDAQ:INTC) Shares Sold by Veracity Capital LLC

Veracity Capital LLC lessened its position in Intel Co. (NASDAQ:INTC) by 33.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,038 shares of the chip maker’s stock after selling 6,133 shares during the period. Veracity Capital LLC’s holdings in Intel were worth $373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors grew its position in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its holdings in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares in the last quarter. Norges Bank acquired a new stake in shares of Intel during the 4th quarter valued at approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 2.0 %

INTC traded up $0.42 on Wednesday, reaching $21.41. The company’s stock had a trading volume of 56,920,309 shares, compared to its average volume of 52,542,480. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a 1 year low of $18.84 and a 1 year high of $51.28. The business’s 50 day moving average is $28.87 and its 200 day moving average is $34.55. The stock has a market cap of $91.14 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings results 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 company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. As a group, research analysts forecast that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.34%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were bought at an average price 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 in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of several research reports. Morgan Stanley lowered their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Susquehanna cut their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Northland Securities lowered their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, April 26th. Six analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.