Mutual of America Capital Management LLC Decreases Stake in Intel Co. (NASDAQ:INTC)

Mutual of America Capital Management LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,266 shares of the chip maker’s stock after selling 12,253 shares during the period. Intel makes up 0.6% of Mutual of America Capital Management LLC’s holdings, making the stock its 18th biggest position. Mutual of America Capital Management LLC’s holdings in Intel were worth $37,790,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Intel by 2.9% during the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock worth $16,852,495,000 after purchasing an additional 8,659,315 shares during the last quarter. Capital International Investors raised its holdings in shares of Intel by 0.9% during the fourth quarter. Capital International Investors now owns 142,522,918 shares of the chip maker’s stock worth $8,529,995,000 after purchasing an additional 1,323,789 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Intel by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 69,030,997 shares of the chip maker’s stock worth $4,124,265,000 after purchasing an additional 904,426 shares during the last quarter. Norges Bank acquired a new stake in Intel during the fourth quarter valued at $2,966,694,000. Finally, Bank of New York Mellon Corp grew its position in Intel by 7.1% during the first quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock valued at $2,207,470,000 after buying an additional 2,709,735 shares during the period. 66.27% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Navin Shenoy sold 2,848 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $58.83, for a total value of $167,547.84. Following the completion of the sale, the executive vice president now directly owns 77,709 shares in the company, valued at approximately $4,571,620.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy D. Bryant sold 9,991 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $57.38, for a total value of $573,283.58. Following the completion of the sale, the director now owns 425,595 shares of the company’s stock, valued at $24,420,641.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,470 shares of company stock valued at $7,005,231. Corporate insiders own 0.04% of the company’s stock.

Several research firms recently commented on INTC. Goldman Sachs Group upgraded shares of Intel from a “sell” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $54.00 in a research report on Tuesday, March 24th. Bank of America restated a “buy” rating and set a $75.00 price target (up previously from $70.00) on shares of Intel in a research report on Friday, January 24th. BMO Capital Markets dropped their price target on shares of Intel from $65.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, April 24th. ThinkEquity assumed coverage on shares of Intel in a research report on Monday, March 16th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. set a $80.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Friday, April 24th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $64.97.

Shares of NASDAQ INTC traded up $0.28 during trading hours on Friday, hitting $62.26. The stock had a trading volume of 14,094,915 shares, compared to its average volume of 23,267,182. The company has a market capitalization of $262.42 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.72 and a beta of 0.82. The firm’s 50-day moving average price is $58.58 and its two-hundred day moving average price is $58.78. Intel Co. has a 52 week low of $42.86 and a 52 week high of $69.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.74.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 23rd. The chip maker reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.17. The business had revenue of $19.83 billion during the quarter, compared to analysts’ expectations of $18.65 billion. Intel had a return on equity of 31.64% and a net margin of 30.02%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, analysts expect that Intel Co. will post 4.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.32 annualized dividend and a yield of 2.12%. Intel’s dividend payout ratio (DPR) is currently 27.10%.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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