Beese Fulmer Investment Management Inc. Sells 1,066 Shares of Intel Co. (NASDAQ:INTC)

Beese Fulmer Investment Management Inc. cut its stake in Intel Co. (NASDAQ:INTC) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,359 shares of the chip maker’s stock after selling 1,066 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Intel were worth $982,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INTC. State Street Corp lifted its stake in Intel by 0.8% in the first quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock valued at $5,858,347,000 after buying an additional 1,447,881 shares during the period. Geode Capital Management LLC lifted its stake in Intel by 0.6% in the first quarter. Geode Capital Management LLC now owns 82,728,971 shares of the chip maker’s stock valued at $2,696,916,000 after buying an additional 512,209 shares during the period. Morgan Stanley lifted its stake in Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after buying an additional 12,241,200 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in Intel by 100,953.1% in the fourth 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 buying an additional 51,083,262 shares during the period. Finally, Norges Bank acquired a new position in Intel in the fourth quarter valued at approximately $1,092,939,000. 60.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI upped their target price on Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Friday, July 28th. BMO Capital Markets upped their target price on Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Raymond James upped 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 upped their target price on Intel from $32.00 to $37.00 and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Robert W. Baird upped their target price on Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.55.

Intel Stock Performance

Shares of INTC stock traded down $0.79 on Friday, hitting $37.88. 68,881,240 shares of the stock were exchanged, compared to its average volume of 43,218,934. The firm’s 50 day moving average is $35.00 and its two-hundred day moving average is $32.23. The firm has a market capitalization of $158.64 billion, a PE ratio of -172.17 and a beta of 0.89. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. Intel Co. has a one year low of $24.59 and a one year high of $40.07.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.50 dividend on an annualized basis and a yield of 1.32%. Intel’s dividend payout ratio (DPR) is -227.26%.

Intel Profile

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.