Everence Capital Management Inc. Sells 23,640 Shares of Intel Co. (NASDAQ:INTC)

Everence Capital Management Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,528 shares of the chip maker’s stock after selling 23,640 shares during the quarter. Everence Capital Management Inc.’s holdings in Intel were worth $5,001,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INTC. Cantor Fitzgerald Investment Advisor L.P grew its position in Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares during the period. Axiom Financial Strategies LLC grew its position in Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after buying an additional 1,056 shares during the period. Fairfield Bush & CO. bought a new stake in Intel during the first quarter valued at approximately $142,000. Retirement Income Solutions Inc grew its position in Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after buying an additional 1,244,247 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Evercore ISI assumed coverage on shares of Intel in a research report on Tuesday. They issued an “in-line” rating and a $40.00 price target for the company. Wedbush reiterated a “neutral” rating and issued a $40.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $42.69.

Intel Trading Down 0.1 %

Shares of NASDAQ INTC traded down $0.05 during mid-day trading on Tuesday, reaching $36.26. The company had a trading volume of 30,270,247 shares, compared to its average volume of 46,857,492. The business’s 50-day moving average is $42.45 and its 200-day moving average is $42.39. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock has a market cap of $153.31 billion, a price-to-earnings ratio of 93.26, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Equities analysts expect that Intel Co. will post 0.62 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

About Intel

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.