K.J. Harrison & Partners Inc Lowers Stake in Intel Co. (NASDAQ:INTC)

K.J. Harrison & Partners Inc trimmed its holdings in Intel Co. (NASDAQ:INTC) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 69,520 shares of the chip maker’s stock after selling 5,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Intel were worth $3,493,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INTC. CX Institutional increased its stake in shares of Intel by 13.4% during the third quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock worth $746,000 after acquiring an additional 2,474 shares during the period. Secure Asset Management LLC purchased a new position in shares of Intel during the 3rd quarter worth approximately $212,000. Connective Portfolio Management LLC lifted its holdings in shares of Intel by 52.0% in the 3rd quarter. Connective Portfolio Management LLC now owns 45,610 shares of the chip maker’s stock valued at $1,621,000 after buying an additional 15,610 shares during the period. Aaron Wealth Advisors LLC boosted its stake in shares of Intel by 7.6% in the third quarter. Aaron Wealth Advisors LLC now owns 20,077 shares of the chip maker’s stock valued at $714,000 after buying an additional 1,411 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Intel by 5.7% during the third quarter. Handelsbanken Fonder AB now owns 1,294,522 shares of the chip maker’s stock worth $46,020,000 after acquiring an additional 70,269 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 9.2 %

Shares of INTC stock traded down $3.23 during mid-day trading on Friday, hitting $31.88. 119,590,954 shares of the company’s stock were exchanged, compared to its average volume of 48,144,715. The stock has a market cap of $134.79 billion, a price-to-earnings ratio of 81.75, a PEG ratio of 3.13 and a beta of 1.00. The stock has a 50-day simple moving average of $40.88 and a two-hundred day simple moving average of $42.23. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. 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 posted its quarterly earnings results 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 company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 128.21%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 filing with the SEC, which is accessible through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction that occurred on 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 owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial reduced their target price on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Roth Mkm reduced their price objective on shares of Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Susquehanna lowered their target price on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company decreased their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.