South Dakota Investment Council Sells 9,200 Shares of Intel Co. (NASDAQ:INTC)

South Dakota Investment Council decreased its position in shares of Intel Co. (NASDAQ:INTC) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,348 shares of the chip maker’s stock after selling 9,200 shares during the period. South Dakota Investment Council’s holdings in Intel were worth $15,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. New Millennium Group LLC grew its position in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Intel in the fourth quarter worth $36,000. Legacy Financial Group LLC bought a new position in shares of Intel in the third quarter worth $30,000. Raleigh Capital Management Inc. raised its stake in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after purchasing an additional 362 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Intel during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 26th. Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a research note on Friday, February 23rd. HSBC reduced their target price on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday. Evercore ISI initiated coverage on Intel in a research report on Tuesday, April 16th. They set an “in-line” rating and a $40.00 price objective for the company. Finally, Susquehanna reduced their price objective on Intel from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $42.38.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was 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 $1,234,676. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Trading Down 0.4 %

Shares of NASDAQ INTC traded down $0.13 during midday trading on Tuesday, reaching $34.28. The 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 price is $41.66 and its 200 day moving average price is $42.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The firm has a market cap of $144.94 billion, a price-to-earnings ratio of 87.90, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion for 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 for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, sell-side analysts expect that Intel Co. will post 0.61 EPS for the current year.

Intel Announces Dividend

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

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.