Dominguez Wealth Management Solutions Inc. Sells 2,882 Shares of Intel Co. (NASDAQ:INTC)

Dominguez Wealth Management Solutions Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 5.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 49,748 shares of the chip maker’s stock after selling 2,882 shares during the period. Intel makes up 0.8% of Dominguez Wealth Management Solutions Inc.’s portfolio, making the stock its 24th largest holding. Dominguez Wealth Management Solutions Inc.’s holdings in Intel were worth $1,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Intel by 0.9% in 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 in the last quarter. Capital International Investors increased its stake in Intel by 16.0% in the 1st 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 in the last quarter. Primecap Management Co. CA increased its stake in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Intel by 6.6% in 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 buying an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INTC. Truist Financial cut their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Susquehanna dropped their price objective 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.96.

Intel Price Performance

Shares of INTC stock opened at $22.26 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week 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 capitalization of $94.76 billion, a P/E ratio of 23.19 and a beta of 1.03. The stock has a 50 day moving average price of $21.82 and a 200 day moving average price of $29.67.

Intel (NASDAQ:INTC) last issued its 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 firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired 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 at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.