Wellington Shields Capital Management LLC Boosts Stake in Intel Co. (NASDAQ:INTC)

Wellington Shields Capital Management LLC grew its holdings in Intel Co. (NASDAQ:INTC) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,616 shares of the chip maker’s stock after buying an additional 1,008 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Intel were worth $453,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INTC. Vanguard Group Inc. lifted its holdings in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares in the last quarter. Capital International Investors lifted 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 valued at $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Norges Bank purchased a new stake in Intel during the 4th quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 6.6% during the first 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 acquiring an additional 2,457,243 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INTC shares. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. UBS Group lowered their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Finally, Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Down 0.7 %

Shares of NASDAQ INTC traded down $0.14 during mid-day trading on Friday, hitting $19.26. The company had a trading volume of 9,181,662 shares, compared to its average volume of 53,981,949. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company has a market capitalization of $81.99 billion, a PE ratio of 20.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The business’s 50-day simple moving average is $26.41 and its 200 day simple moving average is $32.76.

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 company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.46 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.60%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

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.