Corrado Advisors LLC Sells 7,055 Shares of Intel Co. (NASDAQ:INTC)

Corrado Advisors LLC reduced its position in Intel Co. (NASDAQ:INTC) by 12.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,721 shares of the chip maker’s stock after selling 7,055 shares during the quarter. Intel comprises about 2.1% of Corrado Advisors LLC’s holdings, making the stock its 10th largest position. Corrado Advisors LLC’s holdings in Intel were worth $2,549,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INTC. California Public Employees Retirement System increased its stake in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Intel by 18.6% during the 3rd 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of Intel by 17.8% during the 3rd 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. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Intel during the 4th quarter worth $251,250,000. Finally, Parnassus Investments LLC boosted its position in shares of Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 26th. Truist Financial reiterated a “hold” rating and issued a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Citigroup decreased their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. 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. Finally, UBS Group boosted their price objective on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $42.38.

Intel Trading Down 0.4 %

INTC traded down $0.13 on Tuesday, reaching $34.28. 46,719,967 shares of the company’s stock were exchanged, compared to its average volume of 46,893,191. The company’s 50 day moving average is $41.66 and its 200-day moving average is $42.37. The company has a market cap of $144.94 billion, a price-to-earnings ratio of 87.90, a PEG ratio of 3.07 and a beta of 1.00. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Equities analysts predict that Intel Co. will post 0.61 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio is presently 128.21%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of Intel stock in a transaction dated 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 purchase, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of 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. 0.04% of the stock is owned by company insiders.

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.