Northwestern Mutual Wealth Management Co. Increases Stock Position in Intel Co. (NASDAQ:INTC)

Northwestern Mutual Wealth Management Co. raised its position in shares of Intel Co. (NASDAQ:INTC) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,368 shares of the chip maker’s stock after buying an additional 26,663 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Intel were worth $9,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in Intel by 25.2% during the 2nd quarter. NewEdge Advisors LLC now owns 192,683 shares of the chip maker’s stock valued at $5,967,000 after buying an additional 38,749 shares in the last quarter. Northeast Financial Consultants Inc boosted its stake in shares of Intel by 3.3% during the second quarter. Northeast Financial Consultants Inc now owns 81,323 shares of the chip maker’s stock valued at $2,519,000 after purchasing an additional 2,636 shares in the last quarter. Copperwynd Financial LLC increased its holdings in shares of Intel by 10.7% in the 2nd quarter. Copperwynd Financial LLC now owns 50,345 shares of the chip maker’s stock valued at $1,548,000 after acquiring an additional 4,874 shares during the period. Doheny Asset Management CA raised its holdings in Intel by 399.0% in the second quarter. Doheny Asset Management CA now owns 25,150 shares of the chip maker’s stock worth $779,000 after purchasing an additional 20,110 shares in the last quarter. Finally, Clearline Capital LP purchased a new position in shares of Intel in the 2nd quarter worth approximately $8,045,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

INTC opened at $22.69 on Wednesday. The firm has a market capitalization of $96.59 billion, a PE ratio of 23.64 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 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 firm’s 50-day moving average price is $22.18 and its 200 day moving average price is $29.77.

Intel (NASDAQ:INTC) last posted its quarterly 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). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. As a group, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Morgan Stanley decreased their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. 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, the stock presently has a consensus rating of “Hold” and an average price target of $32.04.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

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.