Intel Co. (NASDAQ:INTC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Intel Co. (NASDAQ:INTC) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 5,805,834 shares of the chip maker’s stock after selling 374,437 shares during the quarter. New York State Common Retirement Fund’s holdings in Intel were worth $291,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Millennium Group LLC raised its holdings in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Legacy Financial Group LLC purchased a new stake in Intel in the 3rd quarter valued at about $30,000. Raleigh Capital Management Inc. increased its stake in shares of Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after buying an additional 362 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Intel during the fourth quarter worth approximately $36,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Intel during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 0.6 %

INTC stock traded up $0.21 during midday trading on Monday, hitting $34.41. 39,885,566 shares of the company’s stock were exchanged, compared to its average volume of 46,896,105. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The firm has a 50 day moving average price of $41.85 and a 200-day moving average price of $42.38. The stock has a market capitalization of $145.49 billion, a price-to-earnings ratio of 88.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the previous year, the business earned $0.10 EPS. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post 0.61 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. Intel’s dividend payout ratio (DPR) is 128.21%.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Patrick P. Gelsinger acquired 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 directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James decreased their price target on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, February 23rd. Citigroup cut their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group increased their price objective on Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, Morgan Stanley increased their price objective on Intel from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.62.

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.