17,101 Shares in Intel Co. (NASDAQ:INTC) Purchased by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the second quarter, HoldingsChannel reports. The firm purchased 17,101 shares of the chip maker’s stock, valued at approximately $530,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Advisors Ltd. LLC grew its stake in Intel by 16.3% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 5,525 shares of the chip maker’s stock valued at $171,000 after buying an additional 773 shares during the last quarter. Northcape Wealth Management LLC boosted its position in shares of Intel by 3.1% in the second quarter. Northcape Wealth Management LLC now owns 33,209 shares of the chip maker’s stock valued at $1,028,000 after acquiring an additional 1,000 shares during the period. AMG National Trust Bank grew its stake in shares of Intel by 8.4% in the second quarter. AMG National Trust Bank now owns 49,056 shares of the chip maker’s stock valued at $1,519,000 after acquiring an additional 3,795 shares in the last quarter. Tempus Wealth Planning LLC raised its stake in Intel by 20.4% in the 2nd quarter. Tempus Wealth Planning LLC now owns 10,508 shares of the chip maker’s stock worth $325,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in Intel by 10.0% in the 2nd quarter. Calamos Wealth Management LLC now owns 31,816 shares of the chip maker’s stock valued at $985,000 after purchasing an additional 2,900 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Trading Up 2.2 %

NASDAQ INTC traded up $0.44 on Friday, hitting $20.54. The company’s stock had a trading volume of 73,398,430 shares, compared to its average volume of 52,838,734. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company’s 50-day moving average is $28.28 and its 200 day moving average is $34.08. The firm has a market cap of $87.44 billion, a PE ratio of 21.40, a PEG ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s revenue was down .8% compared to the same quarter last year. As a group, analysts predict that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed 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 is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.43%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on INTC. Truist Financial cut their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays cut their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Morgan Stanley cut their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research 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 company’s stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $32.04.

About Intel

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.