SPC Financial Inc. Raises Position in Intel Co. (NASDAQ:INTC)

SPC Financial Inc. increased its holdings in shares of Intel Co. (NASDAQ:INTC) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,556 shares of the chip maker’s stock after buying an additional 2,763 shares during the quarter. SPC Financial Inc.’s holdings in Intel were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Intel by 543.5% during the fourth 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 in the last quarter. Capital International Investors boosted its position in Intel by 16.0% in the first 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 last quarter. Van ECK Associates Corp increased its stake in shares of 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 acquiring an additional 13,035,566 shares during the period. Davis Selected Advisers raised its stake in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in Intel in the second quarter valued at approximately $162,592,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Down 3.3 %

NASDAQ INTC opened at $22.69 on Wednesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a market capitalization of $96.59 billion, a P/E ratio of 23.64 and a beta of 1.03. The firm’s 50-day moving average is $22.18 and its two-hundred day moving average is $29.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

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). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. On average, sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently disclosed 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 was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’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 transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTC has been the subject of several analyst reports. Susquehanna decreased their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Wedbush reduced their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. Six research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.04.

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.