D.B. Root & Company LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

D.B. Root & Company LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 47.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,349 shares of the chip maker’s stock after selling 16,734 shares during the period. D.B. Root & Company LLC’s holdings in Intel were worth $568,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Financial Partners Group LLC raised its stake in shares of Intel by 30.2% during the 2nd quarter. Financial Partners Group LLC now owns 50,978 shares of the chip maker’s stock worth $1,579,000 after buying an additional 11,816 shares in the last quarter. Ballast Inc. raised its stake in shares of Intel by 35.4% during the 2nd quarter. Ballast Inc. now owns 30,623 shares of the chip maker’s stock worth $948,000 after buying an additional 8,010 shares in the last quarter. PFG Private Wealth Management LLC raised its stake in shares of Intel by 412.0% during the 2nd quarter. PFG Private Wealth Management LLC now owns 2,048 shares of the chip maker’s stock worth $63,000 after buying an additional 1,648 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of Intel by 23.0% in the 2nd quarter. RFG Advisory LLC now owns 31,524 shares of the chip maker’s stock worth $976,000 after acquiring an additional 5,893 shares during the period. Finally, Czech National Bank grew its holdings in shares of Intel by 9.0% in the 2nd quarter. Czech National Bank now owns 811,212 shares of the chip maker’s stock worth $25,123,000 after acquiring an additional 67,202 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by corporate insiders.

Intel Stock Performance

INTC stock traded down $0.35 during mid-day trading on Monday, reaching $19.36. 54,594,057 shares of the stock traded hands, compared to its average volume of 51,844,688. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 52 week low of $18.84 and a 52 week high of $51.28. The business has a 50-day moving average of $30.06 and a two-hundred day moving average of $35.50. The firm has a market capitalization of $82.42 billion, a PE ratio of 20.17, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the company earned ($0.05) earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research reports. Benchmark cut Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company lowered their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Barclays lowered their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley lowered their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel 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.