Intel Co. (NASDAQ:INTC) Shares Sold by Savoie Capital LLC

Savoie Capital LLC cut its position in Intel Co. (NASDAQ:INTC) by 69.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,500 shares of the chip maker’s stock after selling 74,077 shares during the period. Savoie Capital LLC’s holdings in Intel were worth $1,007,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors raised its holdings 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 purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA lifted its position in Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Intel by 6.6% during the first 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 purchasing an additional 2,457,243 shares during the period. Finally, Wellington Management Group LLP boosted its holdings 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 valued at $1,863,271,000 after purchasing an additional 2,515,978 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Up 3.3 %

Shares of NASDAQ:INTC opened at $22.56 on Tuesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock has a market cap of $96.04 billion, a P/E ratio of 23.50 and a beta of 1.03. The business has a fifty day moving average of $23.43 and a two-hundred day moving average of $30.64. 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 (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the company posted ($0.05) EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Susquehanna lowered their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Cantor Fitzgerald decreased their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.