Wedbush Securities Inc. Increases Holdings in Intel Co. (NASDAQ:INTC)

Wedbush Securities Inc. boosted its position in Intel Co. (NASDAQ:INTC) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,017 shares of the chip maker’s stock after purchasing an additional 9,048 shares during the period. Wedbush Securities Inc.’s holdings in Intel were worth $4,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTC. Norges Bank acquired a new position in shares of Intel during the 4th quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD grew its position in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Capital International Investors grew its position in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on INTC shares. Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 target price for the company. Finally, Hsbc Global Res cut 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

Shares of NASDAQ INTC opened at $18.98 on Monday. Intel Co. has a 12-month low of $18.64 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 $81.16 billion, a PE ratio of 19.68 and a beta of 1.03. The stock has a 50 day simple moving average of $26.17 and a 200-day simple moving average of $32.43.

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

Intel Announces Dividend

The company also recently declared 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. This represents a $0.50 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Transactions at Intel

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

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.