Intel Co. (NASDAQ:INTC) Holdings Trimmed by Angeles Wealth Management LLC

Angeles Wealth Management LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,733 shares of the chip maker’s stock after selling 1,238 shares during the quarter. Angeles Wealth Management LLC’s holdings in Intel were worth $270,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of INTC. Norges Bank bought a new position in Intel during the fourth quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD boosted its position in shares of Intel by 543.5% in 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 period. Capital International Investors boosted its position 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 during the period. Van ECK Associates Corp boosted its position in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Finally, Davis Selected Advisers boosted its position in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 3.5 %

INTC opened at $19.64 on Thursday. The business has a 50 day moving average price of $25.46 and a 200 day moving average price of $32.00. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm has a market cap of $83.98 billion, a P/E ratio of 20.46 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.55%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Analyst Ratings Changes

INTC has been the subject of a number of recent analyst reports. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley reduced their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $32.04.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost 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 in the company, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.