Intel Co. (NASDAQ:INTC) Stock Position Cut by Corrado Advisors LLC

Corrado Advisors LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,721 shares of the chip maker’s stock after selling 7,055 shares during the quarter. Intel accounts for 2.1% of Corrado Advisors LLC’s portfolio, making the stock its 10th largest position. Corrado Advisors LLC’s holdings in Intel were worth $2,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its stake 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 acquiring an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 6,064,950 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 acquiring an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Intel during the 4th quarter worth $251,250,000. Finally, Parnassus Investments LLC boosted its stake 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 acquiring an additional 4,631,905 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on INTC. Barclays raised their price objective on shares of Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Wells Fargo & Company decreased their price objective on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Evercore ISI initiated coverage on shares of Intel in a report on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 price target on the stock. Finally, Susquehanna reduced their price target on shares of Intel from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.38.

Intel Stock Down 0.4 %

Shares of INTC traded down $0.13 during mid-day trading on Tuesday, hitting $34.28. The company’s stock had a trading volume of 46,719,967 shares, 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. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The firm has a market capitalization of $144.94 billion, a price-to-earnings ratio of 87.90, a PEG ratio of 3.07 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. On average, equities research analysts forecast that Intel Co. will post 0.61 EPS for the current fiscal year.

Intel Announces Dividend

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

Insider Buying and Selling at Intel

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

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.