Marco Investment Management LLC Sells 844 Shares of Intel Co. (NASDAQ:INTC)

Marco Investment Management LLC lowered its position in Intel Co. (NASDAQ:INTC) by 0.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 183,841 shares of the chip maker’s stock after selling 844 shares during the period. Marco Investment Management LLC’s holdings in Intel were worth $9,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Intel by 0.4% in the third quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock worth $13,548,451,000 after buying an additional 1,624,453 shares in the last quarter. Primecap Management Co. CA boosted its stake in Intel by 6.0% in the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after buying an additional 4,226,790 shares in the last quarter. Northern Trust Corp boosted its stake in Intel by 3.7% in the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after buying an additional 1,626,127 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Intel by 18.6% in the third 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 buying an additional 6,064,950 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Intel by 13.4% during the third quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock valued at $1,272,266,000 after purchasing an additional 4,222,381 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Stifel Nicolaus restated a “hold” rating and issued a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Wedbush cut their target price on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a report on Friday. Finally, 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 report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.75.

Intel Stock Down 9.2 %

Intel stock traded down $3.23 on Friday, hitting $31.88. 119,742,494 shares of the stock traded hands, compared to its average volume of 50,613,192. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm has a market cap of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The business’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $42.30. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion during 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 company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, sell-side analysts forecast that Intel Co. will post 0.6 earnings per share for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

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.