Carret Asset Management LLC Sells 3,932 Shares of Intel Co. (NASDAQ:INTC)

Carret Asset Management LLC reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,635 shares of the chip maker’s stock after selling 3,932 shares during the quarter. Carret Asset Management LLC’s holdings in Intel were worth $4,313,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Trexquant Investment LP acquired a new stake in Intel during the third quarter worth approximately $1,496,000. Gotham Asset Management LLC grew its holdings in Intel by 19.0% in the 3rd quarter. Gotham Asset Management LLC now owns 64,938 shares of the chip maker’s stock valued at $2,309,000 after buying an additional 10,388 shares in the last quarter. Lazard Asset Management LLC increased its position in Intel by 301.9% during the 3rd quarter. Lazard Asset Management LLC now owns 361,607 shares of the chip maker’s stock worth $12,853,000 after buying an additional 271,640 shares during the period. Truist Financial Corp lifted its holdings in shares of Intel by 5.5% during the third quarter. Truist Financial Corp now owns 1,544,003 shares of the chip maker’s stock worth $54,889,000 after buying an additional 80,092 shares in the last quarter. Finally, First National Bank of Omaha boosted its position in shares of Intel by 21.1% in the third quarter. First National Bank of Omaha now owns 7,473 shares of the chip maker’s stock valued at $266,000 after acquiring an additional 1,304 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Intel Trading Up 0.5 %

Shares of INTC stock traded up $0.16 on Wednesday, hitting $31.23. The company had a trading volume of 23,873,807 shares, compared to its average volume of 46,463,461. The stock’s 50-day moving average is $30.95 and its two-hundred day moving average is $39.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market cap of $132.95 billion, a P/E ratio of 32.44, a P/E/G ratio of 14.76 and a beta of 1.05. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. On average, equities research analysts anticipate that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.60%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Friday, April 26th. Susquehanna decreased their price target on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Sanford C. Bernstein cut 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. Finally, Bank of America reduced their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.58.

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.