Park Avenue Securities LLC Reduces Position in Intel Co. (NASDAQ:INTC)

Park Avenue Securities LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,165 shares of the chip maker’s stock after selling 6,376 shares during the period. Park Avenue Securities LLC’s holdings in Intel were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Intel in the fourth quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD raised its stake in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. California Public Employees Retirement System lifted its holdings in 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 purchasing an additional 8,140,835 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Intel by 17.8% in 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 purchased a new stake in shares of Intel in the fourth quarter worth $251,250,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intel

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

Analyst Upgrades and Downgrades

INTC has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Friday, April 26th. Susquehanna dropped their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Morgan Stanley decreased their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Sanford C. Bernstein lowered their price target on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Finally, Barclays cut their price objective on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $39.58.

Intel Trading Up 1.5 %

INTC stock opened at $31.09 on Friday. The firm’s fifty day simple moving average is $31.57 and its two-hundred day simple moving average is $39.94. The stock has a market capitalization of $132.35 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 14.60 and a beta of 1.06. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm 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, analysts anticipate that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

Intel Company Profile

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.