WealthBridge Investment Counsel Inc. Has $1.55 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

WealthBridge Investment Counsel Inc. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,165 shares of the chip maker’s stock after selling 9,775 shares during the quarter. WealthBridge Investment Counsel Inc.’s holdings in Intel were worth $1,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. America First Investment Advisors LLC acquired a new stake in Intel during the second quarter worth approximately $25,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the first quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the second quarter worth about $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel during the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the second quarter valued at approximately $32,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Down 1.0 %

INTC opened at $23.22 on Friday. The business has a 50 day moving average price of $21.19 and a two-hundred day moving average price of $29.04. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $99.29 billion, a PE ratio of 100.96 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given 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 yield of 2.15%. Intel’s dividend payout ratio is currently 217.40%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on INTC shares. Benchmark reissued a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Morgan Stanley reduced their price objective 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. Northland Securities reduced their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.96.

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.