Chesapeake Wealth Management Has $246,000 Position in Intel Co. (NASDAQ:INTC)

Chesapeake Wealth Management lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,944 shares of the chip maker’s stock after selling 1,135 shares during the period. Chesapeake Wealth Management’s holdings in Intel were worth $246,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Intel by 543.5% in the 4th 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 lifted its position in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers boosted its stake in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after buying an additional 4,678,169 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of several research reports. Wedbush reduced their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barclays reduced 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. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. 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 company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Stock Up 3.3 %

NASDAQ INTC opened at $21.84 on Friday. The stock’s 50 day simple moving average is $23.67 and its 200 day simple moving average is $30.98. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $92.97 billion, a PE ratio of 22.75 and a beta of 1.03. 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 (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

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.