State of Alaska Department of Revenue Sells 198,545 Shares of Intel Co. (NASDAQ:INTC)

State of Alaska Department of Revenue lowered its position in Intel Co. (NASDAQ:INTC) by 23.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 648,280 shares of the chip maker’s stock after selling 198,545 shares during the period. State of Alaska Department of Revenue’s holdings in Intel were worth $28,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in INTC. Slow Capital Inc. raised its stake in shares of Intel by 0.9% during the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares in the last quarter. Altus Wealth Group LLC raised its stake in shares of Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after acquiring an additional 5,759 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Intel by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after acquiring an additional 2,915 shares in the last quarter. Alera Investment Advisors LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $201,000. Finally, Brookstone Capital Management raised its stake in shares of Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after acquiring an additional 27,274 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Trading Up 0.5 %

Shares of NASDAQ INTC traded up $0.16 during midday trading on Wednesday, reaching $31.23. 24,065,631 shares of the stock were exchanged, compared to its average volume of 46,464,973. The company has a 50 day simple moving average of $30.95 and a 200 day simple moving average of $39.25. The stock has a market capitalization of $132.95 billion, a P/E ratio of 32.44, a PEG ratio of 14.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) 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 return on equity of 2.19% and a net margin of 7.36%. As a group, equities analysts expect that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued 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 dividend yield of 1.60%. Intel’s dividend payout ratio is currently 52.08%.

Insider Transactions at Intel

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 stock was purchased at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value 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 disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTC. Citigroup reduced their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. TD Cowen reduced their price target on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Barclays cut their target price on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Finally, Bank of America lowered their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $39.58.

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.