ICA Group Wealth Management LLC Sells 12,580 Shares of Intel Co. (NASDAQ:INTC)

ICA Group Wealth Management LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 89.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,420 shares of the chip maker’s stock after selling 12,580 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Intel were worth $44,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. grew its stake in Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after acquiring an additional 247 shares during the period. Enterprise Financial Services Corp lifted its holdings in shares of Intel by 2.2% during the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after purchasing an additional 251 shares in the last quarter. Summit Financial Strategies Inc. grew its position in shares of Intel by 3.7% in the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after purchasing an additional 265 shares during the period. Cape Investment Advisory Inc. increased its stake in Intel by 5.5% during the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after purchasing an additional 270 shares in the last quarter. Finally, Copperwynd Financial LLC raised its holdings in Intel by 0.6% during the 4th quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

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

Intel Price Performance

NASDAQ:INTC opened at $19.66 on Monday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market cap of $84.07 billion, a P/E ratio of 20.48 and a beta of 1.03. The firm’s fifty day moving average price is $24.98 and its two-hundred day moving average price is $31.60. 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 released 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 net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. Intel’s payout ratio is presently 52.08%.

Wall Street Analyst Weigh In

INTC has been the subject of several research reports. Susquehanna lowered their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley cut their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reduced their price target on 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. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus target price of $32.04.

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.