Clearbridge Investments LLC Sells 1,480,853 Shares of Intel Co. (NASDAQ:INTC)

Clearbridge Investments LLC decreased its position in Intel Co. (NASDAQ:INTC) by 8.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 15,412,806 shares of the chip maker’s stock after selling 1,480,853 shares during the period. Clearbridge Investments LLC owned about 0.37% of Intel worth $503,536,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Intel by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 82,216,762 shares of the chip maker’s stock worth $2,169,431,000 after purchasing an additional 816,749 shares during the last quarter. Morgan Stanley boosted its stake in shares of Intel by 29.8% during the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after buying an additional 12,241,200 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Intel by 100,953.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after acquiring an additional 51,083,262 shares in the last quarter. Norges Bank acquired a new stake in shares of Intel in the fourth quarter valued at about $1,092,939,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Intel by 4.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 27,027,513 shares of the chip maker’s stock worth $882,989,000 after acquiring an additional 1,054,603 shares in the last quarter. Institutional investors and hedge funds own 60.84% of the company’s stock.

Insider Activity

In related news, major shareholder Corp Intel sold 38,500,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $40.84, for a total transaction of $1,572,340,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intel news, major shareholder Corp Intel sold 38,500,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $40.84, for a total value of $1,572,340,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger purchased 3,850 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the acquisition, the chief executive officer now owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 38,500,002 shares of company stock worth $1,572,340,065. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of Intel stock traded up $1.22 during trading on Friday, reaching $36.36. 24,721,059 shares of the company’s stock were exchanged, compared to its average volume of 42,913,148. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.60. Intel Co. has a 1-year low of $24.59 and a 1-year high of $37.19. The company has a market cap of $152.28 billion, a P/E ratio of -159.72 and a beta of 0.89. The firm’s 50-day moving average price is $33.96 and its 200 day moving average price is $31.36.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $12.95 billion during the quarter, compared to analysts’ expectations of $12.03 billion. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. As a group, research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.50 annualized dividend and a dividend yield of 1.38%. Intel’s dividend payout ratio (DPR) is presently -227.26%.

Wall Street Analysts Forecast Growth

INTC has been the topic of several recent analyst reports. Raymond James boosted their price target on Intel from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. BMO Capital Markets increased their price target on shares of Intel from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Morgan Stanley lowered their price objective on shares of Intel from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. Stifel Nicolaus raised their target price on shares of Intel from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, July 28th. Finally, Susquehanna upped their price objective on Intel from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Six analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.55.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.