JGP Wealth Management LLC Buys 1,674 Shares of Intel Co. (NASDAQ:INTC)

by · The Markets Daily

JGP Wealth Management LLC lifted its holdings in Intel Co. (NASDAQ:INTC – Free Report) by 7.8% during the third quarter, Holdings Channel reports. The institutional investor owned 23,155 shares of the chip maker’s stock after acquiring an additional 1,674 shares during the quarter. JGP Wealth Management LLC’s holdings in Intel were worth $543,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in 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 worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. Capital International Investors increased its position in shares of Intel by 16.0% during the first 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 during the period. Van ECK Associates Corp grew its holdings in 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 acquiring an additional 13,035,566 shares in the last quarter. Davis Selected Advisers raised its holdings in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in Intel in the second quarter valued at about $162,592,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.43 during midday trading on Friday, hitting $23.65. The company had a trading volume of 20,492,555 shares, compared to its average volume of 58,938,781. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The business has a 50-day simple moving average of $21.07 and a two-hundred day simple moving average of $29.00. The firm has a market capitalization of $101.13 billion, a price-to-earnings ratio of 103.27 and a beta of 1.03.

Intel (NASDAQ:INTC – Get Free Report) last posted 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). The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. Equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced 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 yield of 2.11%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 217.40%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Monday, September 23rd. Truist Financial decreased their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Northland Securities cut their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Barclays cut their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $31.96.

Read Our Latest Research Report on INTC

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by insiders.

About Intel

(Free Report)

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.

See Also

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