Aviance Capital Partners LLC Lowers Stake in Intel Co. (NASDAQ:INTC)

Aviance Capital Partners LLC cut its stake in Intel Co. (NASDAQ:INTC) by 37.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,288 shares of the chip maker’s stock after selling 6,194 shares during the period. Aviance Capital Partners LLC’s holdings in Intel were worth $517,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in Intel by 31.5% during the third quarter. Mackenzie Financial Corp now owns 1,303,481 shares of the chip maker’s stock valued at $46,521,000 after buying an additional 312,442 shares during the period. Cambridge Trust Co. increased its stake in Intel by 14.2% in the 3rd quarter. Cambridge Trust Co. now owns 53,265 shares of the chip maker’s stock worth $1,894,000 after purchasing an additional 6,636 shares during the period. Value Partners Investments Inc. bought a new stake in Intel in the third quarter valued at approximately $209,000. Washington Capital Management Inc. purchased a new stake in shares of Intel during the third quarter valued at approximately $887,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Intel by 8.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,102,758 shares of the chip maker’s stock worth $288,045,000 after purchasing an additional 651,421 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on INTC shares. Truist Financial reduced their price target on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Susquehanna decreased their target price on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Barclays reduced their price objective on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. 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, April 26th. Finally, UBS Group increased their price target on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. 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.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.29 during mid-day trading on Tuesday, reaching $30.68. The company’s stock had a trading volume of 44,615,995 shares, compared to its average volume of 48,394,598. The stock has a 50-day moving average of $39.12 and a two-hundred day moving average of $42.05. 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 stock has a market capitalization of $130.60 billion, a P/E ratio of 31.96, a P/E/G ratio of 10.05 and a beta of 1.09. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Transactions at Intel

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