Wealthsource Partners LLC grew its position in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 102.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,908 shares of the chip maker’s stock after buying an additional 22,241 shares during the quarter. Wealthsource Partners LLC’s holdings in Intel were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Intel in the 4th quarter worth approximately $2,080,248,000. BlackRock Inc. lifted its holdings in Intel by 2.1% in the 4th quarter. BlackRock Inc. now owns 331,347,190 shares of the chip maker’s stock worth $17,064,379,000 after purchasing an additional 6,936,922 shares during the last quarter. State Street Corp lifted its holdings in Intel by 3.7% in the 4th quarter. State Street Corp now owns 177,117,083 shares of the chip maker’s stock worth $9,121,530,000 after purchasing an additional 6,279,484 shares during the last quarter. Atreides Management LP acquired a new stake in Intel in the 4th quarter worth approximately $214,503,000. Finally, Primecap Management Co. CA lifted its holdings in Intel by 9.5% in the 4th quarter. Primecap Management Co. CA now owns 39,401,295 shares of the chip maker’s stock worth $2,029,167,000 after purchasing an additional 3,405,750 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. StockNews.com lowered Intel from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Northland Securities dropped their price target on Intel from $62.00 to $55.00 in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Intel from $55.00 to $45.00 in a research report on Wednesday, July 20th. Susquehanna Bancshares downgraded Intel to a “negative” rating and dropped their price target for the stock from $40.00 to $33.00 in a research report on Friday, July 29th. Finally, Truist Financial dropped their price target on Intel from $53.00 to $49.00 in a research report on Friday, April 8th. Nine analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus target price of $43.83.
Intel Trading Down 0.8 %
Intel (NASDAQ:INTC – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The chip maker reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.41). The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $17.93 billion. Intel had a net margin of 26.03% and a return on equity of 16.65%. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 EPS. As a group, research analysts predict that Intel Co. will post 2.26 earnings per share for the current year.
Intel Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th will be issued a $0.365 dividend. The ex-dividend date is Friday, August 5th. This represents a $1.46 annualized dividend and a dividend yield of 4.13%. Intel’s dividend payout ratio (DPR) is currently 31.26%.
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.
- Get a free copy of the StockNews.com research report on Intel (INTC)
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