Sprucegrove Investment Management Ltd. Has $18.09 Million Holdings in Intel Co. (NASDAQ:INTC)

Sprucegrove Investment Management Ltd. lifted its holdings in Intel Co. (NASDAQ:INTC) by 16.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 583,944 shares of the chip maker’s stock after acquiring an additional 80,700 shares during the period. Intel makes up approximately 0.9% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 23rd largest position. Sprucegrove Investment Management Ltd.’s holdings in Intel were worth $18,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. Capital International Investors lifted its position in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its position in Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers lifted its holdings in shares of Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after acquiring an additional 4,678,169 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intel

In related 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 price of $20.16 per share, with a total value of $252,000.00. Following the transaction, 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 accessible through this link. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $21.14 on Friday. The company has a market capitalization of $89.99 billion, a PE ratio of 22.02 and a beta of 1.03. The company has a 50 day simple moving average of $23.92 and a two-hundred day simple moving average of $31.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. Research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTC. Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price 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.