SPC Financial Inc. Increases Stock Holdings in Intel Co. (NASDAQ:INTC)

SPC Financial Inc. lifted its holdings in Intel Co. (NASDAQ:INTC) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,556 shares of the chip maker’s stock after purchasing an additional 2,763 shares during the period. SPC Financial Inc.’s holdings in Intel were worth $575,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. Vanguard Group Inc. raised its position 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 period. Capital International Investors increased its stake in shares of Intel by 16.0% in 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 in the last quarter. Primecap Management Co. CA increased its stake in shares of Intel by 2.2% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 period. Finally, Legal & General Group Plc raised its holdings in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on INTC shares. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note 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. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Finally, Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.04.

Intel Price Performance

NASDAQ:INTC opened at $22.69 on Wednesday. The firm has a market capitalization of $96.59 billion, a price-to-earnings ratio of 23.64 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. The business has a 50 day simple moving average of $22.18 and a 200-day simple moving average of $29.77. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post -0.47 EPS for the current 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 given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 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.