Intel Co. (NASDAQ:INTC) Position Cut by Private Advisor Group LLC

Private Advisor Group LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 501,812 shares of the chip maker’s stock after selling 4,094 shares during the quarter. Private Advisor Group LLC’s holdings in Intel were worth $25,216,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its position in Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after acquiring an additional 8,140,835 shares during the period. Wellington Management Group LLP grew its position in Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after acquiring an additional 5,217,549 shares during the period. Alecta Tjanstepension Omsesidigt bought a new stake in Intel in the fourth quarter valued at $251,250,000. Parnassus Investments LLC grew its holdings in shares of Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Intel by 6.0% during the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after purchasing an additional 4,226,790 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group cut their target price on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Mizuho reduced their target price on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Intel Trading Up 0.2 %

Shares of Intel stock traded up $0.07 during trading on Monday, hitting $30.97. The stock had a trading volume of 36,153,059 shares, compared to its average volume of 48,448,844. The firm’s fifty day simple moving average is $39.36 and its 200-day simple moving average is $42.08. The stock has a market cap of $131.84 billion, a PE ratio of 32.26, a PEG ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

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.