Carret Asset Management LLC Cuts Stake in Intel Co. (NASDAQ:INTC)

Carret Asset Management LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,635 shares of the chip maker’s stock after selling 3,932 shares during the quarter. Carret Asset Management LLC’s holdings in Intel were worth $4,313,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Intel in the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD increased its position in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. California Public Employees Retirement System raised its stake in shares of Intel by 102.6% during the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after acquiring an additional 8,140,835 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of Intel in the fourth quarter worth about $251,250,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on Intel in a research report on Monday, May 13th. They set a “hold” rating and a $34.00 price target for the company. Truist Financial cut their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Barclays dropped their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company reduced their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.58.

Insider Buying and Selling

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

Intel Stock Performance

Shares of Intel stock traded up $0.16 during trading on Wednesday, hitting $31.23. 23,873,807 shares of the company’s stock traded hands, compared to its average volume of 46,463,461. Intel Co. has a 1 year low of $29.73 and a 1 year high of $51.28. The business has a 50-day simple moving average of $30.95 and a 200-day simple moving average of $39.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market capitalization of $132.95 billion, a P/E ratio of 32.44, a PEG ratio of 14.76 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) 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 the consensus estimate of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. As a group, analysts forecast that Intel Co. will post 0.09 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders 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 dividend yield of 1.60%. 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.