DekaBank Deutsche Girozentrale Reduces Position in Intel Co. (NASDAQ:INTC)

DekaBank Deutsche Girozentrale lessened its position in shares of Intel Co. (NASDAQ:INTC) by 13.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,654,389 shares of the chip maker’s stock after selling 395,628 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Intel worth $81,523,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. grew its stake in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after purchasing an additional 247 shares during the last quarter. Enterprise Financial Services Corp grew its stake in shares of Intel by 2.2% in the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after purchasing an additional 251 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in shares of Intel by 3.7% in the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after purchasing an additional 265 shares during the last quarter. Cape Investment Advisory Inc. grew its stake in shares of Intel by 5.5% in the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after purchasing an additional 270 shares during the last quarter. Finally, Copperwynd Financial LLC grew its stake in shares of Intel by 0.6% in the 4th quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock valued at $2,283,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC stock opened at $19.66 on Friday. The stock has a 50-day moving average price of $24.98 and a two-hundred day moving average price of $31.75. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market cap of $84.07 billion, a PE ratio of 20.48 and a beta of 1.03.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTC. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Cantor Fitzgerald reduced their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Finally, Truist Financial reduced their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price 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.