Hartford Investment Management Co. Sells 4,235 Shares of Intel Co. (NASDAQ:INTC)

Hartford Investment Management Co. lessened its position in Intel Co. (NASDAQ:INTC) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 268,350 shares of the chip maker’s stock after selling 4,235 shares during the period. Hartford Investment Management Co.’s holdings in Intel were worth $6,295,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Global Assets Advisory LLC bought a new position in Intel in the 1st quarter valued at $4,442,000. Dynamic Advisor Solutions LLC grew its holdings in shares of Intel by 0.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 83,017 shares of the chip maker’s stock worth $3,667,000 after purchasing an additional 350 shares during the last quarter. Brookstone Capital Management increased its stake in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after buying an additional 27,274 shares during the period. RFG Holdings Inc. bought a new position in Intel in the 1st quarter worth about $326,000. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of Intel by 21.0% in the 1st quarter. Revolve Wealth Partners LLC now owns 8,951 shares of the chip maker’s stock worth $395,000 after buying an additional 1,554 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of a number of recent research reports. Barclays dropped their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Finally, Cantor Fitzgerald decreased their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.92.

Intel Trading Down 0.7 %

Shares of INTC traded down $0.16 during midday trading on Wednesday, reaching $22.24. The company had a trading volume of 4,548,293 shares, compared to its average volume of 58,432,477. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $21.51 and a 200-day simple moving average of $27.71. The stock has a market cap of $94.68 billion, a PE ratio of 23.33 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Intel’s revenue was down .8% on a year-over-year basis. Research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.25%. Intel’s dividend payout ratio is currently 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.