Intel Co. (NASDAQ:INTC) Shares Sold by Investment Partners LTD.

Investment Partners LTD. cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,029 shares of the chip maker’s stock after selling 981 shares during the quarter. Investment Partners LTD.’s holdings in Intel were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Intel by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock valued at $13,548,451,000 after acquiring an additional 1,624,453 shares during the period. Primecap Management Co. CA raised its stake in shares of Intel by 6.0% in the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after acquiring an additional 4,226,790 shares during the period. Northern Trust Corp raised its stake in shares of Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after acquiring an additional 6,064,950 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Intel by 13.4% in the 3rd quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock valued at $1,272,266,000 after acquiring an additional 4,222,381 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Shares of INTC traded down $3.23 during trading hours on Friday, reaching $31.88. The company had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. The firm has a 50 day simple moving average of $40.88 and a 200-day simple moving average of $42.23. 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 company has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period last year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts expect that Intel Co. will post 0.6 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s dividend payout ratio is currently 52.08%.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on INTC shares. Evercore ISI cut their target price on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday. Barclays cut their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday. HSBC cut their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday. Sanford C. Bernstein cut their target price on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Citigroup cut their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $39.75.

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.