TCW Group Inc. Sells 14,337 Shares of Intel Co. (NASDAQ:INTC)

TCW Group Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 11.6% in the second quarter, Holdings Channel reports. The firm owned 109,042 shares of the chip maker’s stock after selling 14,337 shares during the quarter. TCW Group Inc.’s holdings in Intel were worth $3,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. Vanguard Group Inc. boosted its holdings in shares of Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares in the last quarter. Capital International Investors boosted its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after acquiring an additional 475,636 shares in the last quarter. Norges Bank acquired a new position in shares of Intel in the 4th quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Trading Up 0.9 %

Shares of INTC traded up $0.18 during trading hours on Friday, reaching $20.87. The stock had a trading volume of 48,582,663 shares, compared to its average volume of 52,228,957. The company has a market cap of $88.84 billion, a P/E ratio of 21.74, a P/E/G ratio of 17.38 and a beta of 1.05. 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 firm has a 50-day moving average of $29.26 and a 200 day moving average of $34.91.

Intel (NASDAQ:INTC) last announced its 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 company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, sell-side analysts expect that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

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 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Analysts Set New Price Targets

Several brokerages have recently commented on INTC. Northland Securities reduced their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Sanford C. Bernstein dropped their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Truist Financial dropped their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush dropped their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Company 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.