Wealth Dimensions Group Ltd. Sells 2,332 Shares of Intel Co. (NASDAQ:INTC)

Wealth Dimensions Group Ltd. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 13.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,648 shares of the chip maker’s stock after selling 2,332 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Intel were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 valued at $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors boosted 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 valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA grew its position 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 valued at $3,780,706,000 after acquiring an additional 475,636 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 acquiring an additional 2,457,243 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Intel by 7.3% in the fourth quarter. Wellington Management Group LLP now owns 37,080,015 shares of the chip maker’s stock worth $1,863,271,000 after purchasing an additional 2,515,978 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Truist Financial dropped their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Susquehanna decreased their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.04.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’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 purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

Intel Trading Up 1.5 %

Shares of NASDAQ:INTC opened at $19.66 on Monday. The business’s 50-day moving average is $24.98 and its 200 day moving average is $31.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a market capitalization of $84.07 billion, a P/E ratio of 20.48 and a beta of 1.03.

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

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

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.