Northwest Investment Counselors LLC Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Northwest Investment Counselors LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,789 shares of the chip maker’s stock after selling 3,996 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Intel were worth $1,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors grew its holdings in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $1,759,811,000 after buying an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after buying an additional 487,191 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Daiwa America raised shares of Intel to a “hold” rating in a research note 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 issued a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $31.92.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Intel Price Performance

NASDAQ INTC traded down $0.22 during midday trading on Monday, hitting $22.55. The company had a trading volume of 20,168,396 shares, compared to its average volume of 58,642,543. The company has a market capitalization of $96.00 billion, a PE ratio of 23.33 and a beta of 1.03. 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 firm has a 50-day moving average price of $21.40 and a 200-day moving average price of $27.94. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.22%. Intel’s payout ratio is 52.08%.

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.