Intel Co. (NASDAQ:INTC) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 36.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 473,964 shares of the chip maker’s stock after selling 271,567 shares during the quarter. Acadian Asset Management LLC’s holdings in Intel were worth $20,929,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. TIAA Trust National Association raised its holdings in shares of Intel by 3.6% during the first quarter. TIAA Trust National Association now owns 251,066 shares of the chip maker’s stock valued at $11,090,000 after buying an additional 8,809 shares during the last quarter. Vanguard Group Inc. increased its position in Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after acquiring an additional 3,310,528 shares during the period. Spirepoint Private Client LLC bought a new stake in Intel during the 1st quarter valued at $355,000. Intech Investment Management LLC boosted its position in Intel by 22.2% during the 1st quarter. Intech Investment Management LLC now owns 132,031 shares of the chip maker’s stock worth $5,832,000 after acquiring an additional 23,992 shares during the period. Finally, Clearstead Trust LLC grew its stake in shares of Intel by 3.3% in the first quarter. Clearstead Trust LLC now owns 23,268 shares of the chip maker’s stock worth $1,028,000 after purchasing an additional 752 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Evercore ISI reduced their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. HSBC lowered their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Mizuho cut their target price on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Morgan Stanley lowered their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.25.

Intel Stock Up 0.6 %

Shares of NASDAQ INTC traded up $0.19 during mid-day trading on Monday, reaching $33.17. The company had a trading volume of 25,466,670 shares, compared to its average volume of 47,889,020. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a market capitalization of $141.20 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 19.74 and a beta of 1.05. The stock has a fifty day moving average of $31.56 and a two-hundred day moving average of $37.91. Intel Co. has a 12-month low of $29.73 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. As a group, equities research analysts expect that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were paid a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.51%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.