Northcape Wealth Management LLC Purchases 1,000 Shares of Intel Co. (NASDAQ:INTC)

Northcape Wealth Management LLC increased its holdings in Intel Co. (NASDAQ:INTC) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,209 shares of the chip maker’s stock after purchasing an additional 1,000 shares during the period. Northcape Wealth Management LLC’s holdings in Intel were worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Intel during the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 31,575,084 shares during the last quarter. Capital International Investors raised its holdings in Intel by 16.0% during 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 buying an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its position in Intel by 44.8% in the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after buying an additional 6,673,086 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 2.2 %

Shares of NASDAQ:INTC traded up $0.44 during mid-day trading on Friday, hitting $20.54. The stock had a trading volume of 73,398,430 shares, compared to its average volume of 52,838,734. The company’s 50 day moving average is $28.28 and its 200-day moving average is $34.14. The company has a market cap of $87.44 billion, a PE ratio of 21.40, a P/E/G ratio of 17.38 and a beta of 1.05. Intel Co. has a 12-month low of $18.84 and a 12-month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTC) last announced 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 during 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%. Intel’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. On average, sell-side analysts predict that Intel Co. will post 0.07 EPS for the current year.

Intel Announces Dividend

The firm 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. This represents a $0.50 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INTC shares. JPMorgan Chase & Co. dropped their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Barclays lowered their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Susquehanna lowered their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price target on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.