Intel Co. (NASDAQ:INTC) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC cut its stake in Intel Co. (NASDAQ:INTC) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,397 shares of the chip maker’s stock after selling 1,681 shares during the quarter. Principle Wealth Partners LLC’s holdings in Intel were worth $8,713,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INTC. California Public Employees Retirement System grew its holdings in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Bank of New York Mellon Corp grew its holdings 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 during the period. Wellington Management Group LLP grew its holdings 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 during the period. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Intel during the 4th quarter worth $251,250,000. Finally, Parnassus Investments LLC grew its holdings 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 during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

INTC traded down $3.23 during trading on Friday, hitting $31.88. 119,742,494 shares of the stock were exchanged, compared to its average volume of 50,613,192. The firm has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The stock has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $42.27. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts predict that Intel Co. will post 0.6 earnings per share for the current year.

Intel Dividend Announcement

The business 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. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The shares were 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 of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $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

A number of equities analysts have recently weighed in on INTC shares. Raymond James lowered 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. Truist Financial lowered their target price on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Barclays lowered their target price on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. HSBC lowered their target price on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group lowered their target price on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.75.

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.