Beacon Investment Advisory Services Inc. Sells 4,040 Shares of Intel Co. (NASDAQ:INTC)

Beacon Investment Advisory Services Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 121,009 shares of the chip maker’s stock after selling 4,040 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Intel were worth $5,345,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Vanguard Group Inc. raised its position in shares of Intel by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares during the period. Capital International Investors raised its position in shares of Intel by 0.3% during the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after purchasing an additional 318,495 shares during the period. Primecap Management Co. CA raised its position in shares of Intel by 0.6% during the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares during the period. Norges Bank acquired a new position in shares of Intel during the fourth quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of 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. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTC. Wells Fargo & Company lowered their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, April 26th. Roth Mkm lowered their price target on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Morgan Stanley lowered their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $39.25.

Intel Price Performance

NASDAQ INTC traded up $0.41 during trading hours on Thursday, hitting $34.87. The company had a trading volume of 83,812,690 shares, compared to its average volume of 47,892,938. Intel Co. has a 52 week low of $29.73 and a 52 week high of $51.28. The firm has a 50 day simple moving average of $31.49 and a 200 day simple moving average of $38.16. 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 capitalization of $148.44 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 17.82 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The company had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. Equities research analysts expect that Intel Co. will post 0.08 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.43%. Intel’s payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

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

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.