Intel Co. (NASDAQ:INTC) Shares Sold by Private Asset Management Inc.

Private Asset Management Inc. lessened its stake in Intel Co. (NASDAQ:INTC) by 24.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,445 shares of the chip maker’s stock after selling 21,111 shares during the period. Private Asset Management Inc.’s holdings in Intel were worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in shares of Intel during the 1st quarter worth $32,000. Milestone Investment Advisors LLC purchased a new stake in Intel during the first quarter worth about $32,000. Kepos Capital LP acquired a new position in Intel during the fourth quarter worth about $38,000. Ruedi Wealth Management Inc. purchased a new position in Intel in the fourth quarter valued at about $40,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Intel during the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 3,250 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the transaction, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Patrick P. Gelsinger bought 3,250 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $35.87 per share, with a total value of $116,577.50. Following the completion of the purchase, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was acquired at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the purchase, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC stock traded down $0.18 on Thursday, hitting $38.53. The company’s stock had a trading volume of 5,209,542 shares, compared to its average volume of 42,926,516. Intel Co. has a fifty-two week low of $24.59 and a fifty-two week high of $40.07. The company has a market capitalization of $161.36 billion, a PE ratio of -175.95 and a beta of 0.89. The stock’s 50 day moving average is $34.74 and its 200-day moving average is $32.05. 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 (NASDAQ:INTC) last released its earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $12.95 billion during the quarter, compared to the consensus estimate of $12.03 billion. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. Equities research analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, August 4th. Intel’s payout ratio is -227.27%.

Analyst Ratings Changes

A number of analysts have commented on the company. Raymond James boosted their target price on Intel from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Truist Financial increased their price objective on shares of Intel from $32.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, July 28th. Tigress Financial dropped their target price on shares of Intel from $72.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 4th. Wolfe Research upped their price target on shares of Intel from $27.00 to $31.00 and gave the company an “underperform” rating in a report on Friday, July 28th. Finally, StockNews.com started coverage on shares of Intel in a research note on Thursday, August 17th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company 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.