Citadel Investment Advisory Inc. Trims Stake in Intel Co. (NASDAQ:INTC)

Citadel Investment Advisory Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,607 shares of the chip maker’s stock after selling 500 shares during the period. Citadel Investment Advisory Inc.’s holdings in Intel were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Frontier Wealth Management LLC raised its stake in Intel by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock worth $2,181,000 after buying an additional 253 shares in the last quarter. West Michigan Advisors LLC grew its stake in Intel by 5.4% in the first quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock valued at $255,000 after purchasing an additional 262 shares during the last quarter. Retirement Income Solutions Inc grew its stake in Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after purchasing an additional 307 shares during the last quarter. CFO4Life Group LLC grew its stake in Intel by 2.3% in the first quarter. CFO4Life Group LLC now owns 15,770 shares of the chip maker’s stock valued at $515,000 after purchasing an additional 348 shares during the last quarter. Finally, Legacy Private Trust Co. grew its stake in Intel by 2.7% in the second quarter. Legacy Private Trust Co. now owns 13,124 shares of the chip maker’s stock valued at $439,000 after purchasing an additional 350 shares during the last quarter. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INTC shares. Raymond James raised their target price on shares of Intel from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Needham & Company LLC raised their target price on shares of Intel from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Truist Financial increased their price target on Intel from $32.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, July 28th. Tigress Financial decreased their price target on Intel from $72.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Finally, Susquehanna increased their price target on Intel from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Six investment 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 company. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $33.55.

Intel Price Performance

INTC traded down $0.79 during midday trading on Friday, hitting $37.88. 68,881,240 shares of the company traded hands, compared to its average volume of 43,218,934. The business has a 50 day simple moving average of $35.00 and a two-hundred day simple moving average of $32.23. Intel Co. has a 52-week low of $24.59 and a 52-week high of $40.07. The company has a market capitalization of $158.64 billion, a price-to-earnings 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 (NASDAQ:INTC) last issued its quarterly 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. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. The firm had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.03 billion. On average, equities analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, August 4th. Intel’s payout ratio is -227.26%.

Insider Activity at Intel

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

Intel Company 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.