Intel Co. (NASDAQ:INTC) Shares Sold by Cetera Advisors LLC

Cetera Advisors LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 55.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 221,172 shares of the chip maker’s stock after selling 279,953 shares during the quarter. Cetera Advisors LLC’s holdings in Intel were worth $7,396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Intel by 98,521.3% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 178,121,843 shares of the chip maker’s stock valued at $5,956,394,000 after acquiring an additional 177,941,231 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Intel by 100,953.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after purchasing an additional 51,083,262 shares during the period. Norges Bank acquired a new stake in Intel during the 4th quarter worth $1,092,939,000. Parnassus Investments LLC purchased a new position in Intel during the 2nd quarter worth $626,573,000. Finally, Clearbridge Investments LLC increased its stake in Intel by 4,407.3% in the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock valued at $814,727,000 after purchasing an additional 16,074,485 shares during the period. 60.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 6,775 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were bought at an average cost of $36.80 per share, with a total value of $249,320.00. Following the purchase, the chief executive officer now directly owns 25,475 shares of the company’s stock, valued at $937,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on INTC. TD Cowen raised their price target on Intel from $31.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. BMO Capital Markets lifted their target price on 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 upped their price target on Intel from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $27.00 to $33.00 in a research report on Friday, October 27th. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $35.53.

Intel Stock Up 6.7 %

INTC stock opened at $43.35 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.53 and a quick ratio of 1.13. The company’s 50 day simple moving average is $36.60 and its 200-day simple moving average is $34.22. Intel Co. has a 12 month low of $24.73 and a 12 month high of $43.40. The firm has a market capitalization of $182.76 billion, a PE ratio of -108.37, a P/E/G ratio of 15.13 and a beta of 0.88.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. Intel’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Equities analysts expect that Intel Co. will post 0.19 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Monday, November 6th. Intel’s dividend payout ratio is presently -125.00%.

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.