Monarch Capital Management Inc. Grows Stake in Intel Co. (NASDAQ:INTC)

Monarch Capital Management Inc. grew its position in Intel Co. (NASDAQ:INTC) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,523 shares of the chip maker’s stock after buying an additional 1,529 shares during the quarter. Monarch Capital Management Inc.’s holdings in Intel were worth $2,803,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Intel during the 4th quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD increased its holdings in Intel by 543.5% during 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 buying an additional 31,575,084 shares during the period. Capital International Investors raised its stake in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Intel by 44.8% during the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after buying an additional 6,673,086 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Intel by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of several recent research reports. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Sanford C. Bernstein decreased their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. 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 report on Friday, August 2nd. Susquehanna reduced their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.04.

Intel Stock Performance

Shares of INTC traded up $0.44 during mid-day trading on Friday, reaching $20.54. The company had a trading volume of 73,398,430 shares, compared to its average volume of 52,838,734. The stock has a market capitalization of $87.44 billion, a P/E ratio of 21.40, a PEG ratio of 17.38 and a beta of 1.05. Intel Co. has a 52-week low of $18.84 and a 52-week high of $51.28. The stock has a 50 day moving average of $28.28 and a two-hundred day moving average of $34.14. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last posted its earnings results 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). Intel had a net margin of 1.77% and a return on equity of 1.82%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect that Intel Co. will post 0.07 earnings per share for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is 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.