Investment Partners LTD. Sells 453 Shares of Intel Co. (NASDAQ:INTC)

Investment Partners LTD. cut its stake in Intel Co. (NASDAQ:INTC) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,576 shares of the chip maker’s stock after selling 453 shares during the period. Investment Partners LTD.’s holdings in Intel were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Intel in the fourth quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD increased its position in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Intel by 102.6% in 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 acquiring an additional 8,140,835 shares during the last quarter. Wellington Management Group LLP lifted its position 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 in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of Intel during the fourth quarter valued at approximately $251,250,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Roth Mkm lowered their target price on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Jefferies Financial Group assumed coverage on shares of Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 price target for the company. Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Finally, Morgan Stanley lowered their target price on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $39.58.

Intel Stock Up 1.2 %

INTC traded up $0.38 on Friday, hitting $30.97. 9,883,113 shares of the company were exchanged, compared to its average volume of 46,583,609. The stock’s fifty day moving average is $31.24 and its 200-day moving average is $39.68. Intel Co. has a 12 month low of $29.73 and a 12 month high of $51.28. 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 company has a market cap of $131.84 billion, a PE ratio of 32.47, a PEG ratio of 14.56 and a beta of 1.06.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). Intel had a return on equity of 2.19% and a net margin of 7.36%. The company had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Equities research analysts predict that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

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.