White Pine Capital LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

White Pine Capital LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,275 shares of the chip maker’s stock after selling 1,643 shares during the quarter. White Pine Capital LLC’s holdings in Intel were worth $1,722,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in INTC. California Public Employees Retirement System grew its holdings in shares of Intel by 102.6% during the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Intel by 18.6% during the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after purchasing an additional 6,064,950 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Intel during the fourth quarter worth about $251,250,000. Finally, Parnassus Investments LLC boosted its stake 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 buying an additional 4,631,905 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ INTC traded down $3.23 on Friday, hitting $31.88. The stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. Intel Co. has a one year low of $26.85 and a one year high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. The company’s 50-day moving average is $40.88 and its two-hundred day moving average is $42.23.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same period in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts expect that Intel Co. will post 0.6 earnings per share for the current year.

Intel Dividend Announcement

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

Insider Activity at Intel

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on INTC shares. HSBC decreased their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday. TD Cowen decreased their target price on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley decreased their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday. Finally, Roth Mkm decreased their target price on shares of Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intel currently has a consensus 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.