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

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

A number of other hedge funds have also recently bought and sold shares of INTC. Clear Street Markets LLC lifted its holdings in Intel by 18.1% during the fourth quarter. Clear Street Markets LLC now owns 7,639 shares of the chip maker’s stock worth $384,000 after acquiring an additional 1,169 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in Intel by 2.6% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 2,667,008 shares of the chip maker’s stock worth $134,017,000 after acquiring an additional 68,819 shares in the last quarter. Fullerton Fund Management Co Ltd. bought a new stake in Intel during the fourth quarter worth about $16,296,000. Fort Sheridan Advisors LLC increased its position in Intel by 6.9% during the fourth quarter. Fort Sheridan Advisors LLC now owns 130,719 shares of the chip maker’s stock worth $6,569,000 after buying an additional 8,409 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Intel by 3.3% during the fourth quarter. Public Sector Pension Investment Board now owns 1,548,577 shares of the chip maker’s stock worth $77,816,000 after buying an additional 49,970 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade 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 at this link. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of analyst reports. Barclays reduced their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Finally, Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Six investment 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’s stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $31.96.

Intel Price Performance

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

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 analysts’ expectations of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.15%. Intel’s dividend payout ratio is presently 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.