Evanson Asset Management LLC Reduces Position in Intel Co. (NASDAQ:INTC)

Evanson Asset Management LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,509 shares of the chip maker’s stock after selling 396 shares during the quarter. Evanson Asset Management LLC’s holdings in Intel were worth $478,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in INTC. Moneta Group Investment Advisors LLC increased its holdings in Intel by 100,953.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after buying an additional 51,083,262 shares during the last quarter. Norges Bank bought a new position in Intel during the fourth quarter worth $1,092,939,000. Clearbridge Investments LLC boosted its holdings in Intel by 4,407.3% in the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares during the period. Barclays PLC increased its stake in Intel by 171.1% during the second quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock valued at $715,773,000 after purchasing an additional 13,507,774 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Intel by 29.8% in the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after buying an additional 12,241,200 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.40 during mid-day trading on Thursday, hitting $44.17. The company had a trading volume of 54,190,598 shares, compared to its average volume of 45,376,137. The firm has a market cap of $186.75 billion, a P/E ratio of 113.26, a PEG ratio of 4.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The business’s 50-day simple moving average is $43.94 and its 200-day simple moving average is $42.03. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 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 analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. As a group, analysts predict that Intel Co. will post 0.64 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.13%. Intel’s dividend payout ratio (DPR) is presently 128.21%.

Analyst Ratings Changes

INTC has been the subject of a number of recent research reports. Susquehanna upped their price objective on Intel from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. The Goldman Sachs Group lifted their price objective on shares of Intel from $34.00 to $39.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday, February 23rd. HSBC cut their target price on Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, January 26th. Finally, Wedbush reissued a “neutral” rating and set a $40.00 price target on shares of Intel in a report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.48.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate 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.