Intel Co. (NASDAQ:INTC) Position Trimmed by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC reduced its holdings in Intel Co. (NASDAQ:INTC) by 42.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,235 shares of the chip maker’s stock after selling 913 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Intel were worth $38,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of INTC. Vanguard Group Inc. lifted its holdings in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the last quarter. Capital International Investors raised 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 period. Primecap Management Co. CA raised its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Intel by 7.3% during the 4th 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 period. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

NASDAQ INTC opened at $21.14 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock’s 50-day moving average price is $23.92 and its two-hundred day moving average price is $31.15. The company has a market cap of $89.99 billion, a PE ratio of 22.02 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 (NASDAQ:INTC) last issued 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). 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 quarter last year, the company posted ($0.05) EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.37%. Intel’s dividend payout ratio is 52.08%.

Wall Street Analyst Weigh In

INTC has been the topic of several analyst reports. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Susquehanna dropped their price objective 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. Wedbush reduced their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Finally, HSBC cut Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, 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 SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

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.