Rempart Asset Management Inc. lessened its position in shares of Intel Co. (NASDAQ:INTC – Free Report) by 23.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,490 shares of the chip maker’s stock after selling 66,410 shares during the period. Intel makes up approximately 1.5% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. Rempart Asset Management Inc.’s holdings in Intel were worth $7,306,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Intel during the first quarter worth about $32,000. Milestone Investment Advisors LLC bought a new position in shares of Intel in the first quarter worth $32,000. Kepos Capital LP bought a new stake in Intel during the fourth quarter worth about $38,000. Ruedi Wealth Management Inc. acquired a new stake in Intel during the fourth quarter worth about $40,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Intel in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 60.84% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Intel from $31.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Evercore ISI raised their target price on Intel from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Friday, July 28th. Susquehanna boosted their price target on Intel from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Intel from $32.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus boosted their target price on Intel from $28.00 to $32.00 and gave the stock a “hold” rating in a research note 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.55.
Intel Stock Down 2.0 %
Shares of INTC traded down $0.79 during trading hours on Friday, hitting $37.88. The stock had a trading volume of 68,881,240 shares, compared to its average volume of 43,218,934. The firm has a 50 day simple moving average of $35.00 and a 200-day simple moving average of $32.23. Intel Co. has a 1-year low of $24.59 and a 1-year high of $40.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.15. The firm has a market capitalization of $158.64 billion, a P/E ratio of -172.17 and a beta of 0.89.
Intel (NASDAQ:INTC – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The firm had revenue of $12.95 billion during the quarter, compared to the consensus estimate of $12.03 billion. Sell-side analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.
Intel Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, August 4th. Intel’s dividend payout ratio (DPR) is -227.26%.
Insider Transactions at Intel
In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, with a total value of $133,325.50. Following the transaction, the chief executive officer now owns 105,495 shares in the company, valued at $3,653,291.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Patrick P. Gelsinger acquired 3,850 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 105,495 shares in the company, valued at approximately $3,653,291.85. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger bought 3,250 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the acquisition, the chief executive officer now directly owns 139,715 shares of the company’s stock, 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.
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.
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