TCV Trust & Wealth Management Inc. Reduces Stock Position in Intel Co. (NASDAQ:INTC)

TCV Trust & Wealth Management Inc. decreased its position in Intel Co. (NASDAQ:INTC) by 18.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,250 shares of the chip maker’s stock after selling 2,730 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Intel were worth $287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors increased its stake in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its stake in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Cantor Fitzgerald decreased their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Six investment 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.com, the stock presently has an average rating of “Hold” and an average target price of $31.15.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

Intel Price Performance

Shares of NASDAQ:INTC opened at $22.68 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm has a market cap of $96.98 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03. The business has a 50-day simple moving average of $21.62 and a two-hundred day simple moving average of $27.45. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share 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 for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid 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 dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is currently 217.40%.

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.