ICA Group Wealth Management LLC Has $44,000 Stock Holdings in Intel Co. (NASDAQ:INTC)

ICA Group Wealth Management LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 89.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,420 shares of the chip maker’s stock after selling 12,580 shares during the period. ICA Group Wealth Management LLC’s holdings in Intel were worth $44,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INTC. Retirement Planning Co of New England Inc. boosted its position in Intel by 4.3% during the second quarter. Retirement Planning Co of New England Inc. now owns 29,341 shares of the chip maker’s stock valued at $909,000 after purchasing an additional 1,216 shares during the last quarter. Mystic Asset Management Inc. boosted its position in Intel by 4.4% during the second quarter. Mystic Asset Management Inc. now owns 40,556 shares of the chip maker’s stock valued at $1,256,000 after purchasing an additional 1,726 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its position in Intel by 2.1% during the second quarter. Wilkins Investment Counsel Inc. now owns 533,992 shares of the chip maker’s stock valued at $16,538,000 after purchasing an additional 11,077 shares during the last quarter. Williams Financial LLC acquired a new stake in Intel during the second quarter valued at $1,211,000. Finally, SilverOak Wealth Management LLC boosted its position in Intel by 9.7% during the second quarter. SilverOak Wealth Management LLC now owns 15,766 shares of the chip maker’s stock valued at $488,000 after purchasing an additional 1,393 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Intel Stock Up 1.5 %

NASDAQ INTC opened at $19.66 on Monday. The stock’s 50 day simple moving average is $24.98 and its 200 day simple moving average is $31.60. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $84.07 billion, a PE ratio of 20.48 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.

Intel (NASDAQ:INTC) last announced its earnings results 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 business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

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. 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 2.54%. Intel’s payout ratio is 52.08%.

Analyst Ratings Changes

INTC has been the subject of a number of research reports. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Wedbush reduced their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Barclays reduced their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.