Intel Co. (NASDAQ:INTC) Shares Sold by Horizon Wealth Management LLC

Horizon Wealth Management LLC lowered its position in Intel Co. (NASDAQ:INTC) by 10.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,108 shares of the chip maker’s stock after selling 1,111 shares during the period. Horizon Wealth Management LLC’s holdings in Intel were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares in the last quarter. Capital International Investors grew its holdings in Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after buying an additional 318,495 shares during the period. Primecap Management Co. CA grew its holdings in Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares during the period. Norges Bank purchased a new stake in Intel in the 4th quarter valued at about $2,424,202,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays reduced their price target on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Wells Fargo & Company reduced their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. StockNews.com raised Intel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, UBS Group boosted their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $39.58.

Intel Stock Down 0.8 %

Shares of NASDAQ INTC traded down $0.24 during mid-day trading on Monday, reaching $30.73. 15,400,622 shares of the company traded hands, compared to its average volume of 46,591,883. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The stock has a market cap of $130.82 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 14.76 and a beta of 1.05. The company’s fifty day moving average is $31.08 and its two-hundred day moving average is $39.46. Intel Co. has a fifty-two week low of $29.73 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. On average, analysts expect that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.63%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is 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.