Wedgewood Investors Inc. PA Makes New $530,000 Investment in Intel Co. (NASDAQ:INTC)

Wedgewood Investors Inc. PA purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,101 shares of the chip maker’s stock, valued at approximately $530,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. lifted its stake in shares of Intel by 4.5% during the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after buying an additional 247 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Intel by 5.3% in the fourth quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock valued at $250,000 after acquiring an additional 249 shares in the last quarter. Enterprise Financial Services Corp grew its position in shares of Intel by 2.2% during the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after purchasing an additional 251 shares in the last quarter. Summit Financial Strategies Inc. raised its stake in Intel by 3.7% during the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after purchasing an additional 265 shares during the period. Finally, Cape Investment Advisory Inc. lifted its holdings in Intel by 5.5% in the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $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.

Intel Price Performance

Shares of Intel stock traded up $0.44 on Friday, hitting $20.54. The company’s stock had a trading volume of 73,398,430 shares, compared to its average volume of 52,838,734. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a 1 year low of $18.84 and a 1 year high of $51.28. The firm has a fifty day moving average price of $28.28 and a 200-day moving average price of $34.08. The company has a market capitalization of $87.44 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

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). Intel had a return on equity of 1.82% and a net margin of 1.77%. 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 previous year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders 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 dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INTC shares. Truist Financial cut their price objective 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 dropped their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 price objective for the company. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Finally, TD Cowen dropped their price objective on shares of Intel from $35.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.04.

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.