Intel Co. (NASDAQ:INTC) Position Reduced by Chapin Davis Inc.

Chapin Davis Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 4.2% during the first quarter, Holdings Channel reports. The fund owned 21,952 shares of the chip maker’s stock after selling 973 shares during the quarter. Chapin Davis Inc.’s holdings in Intel were worth $970,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares during the last quarter. Capital International Investors grew its stake in shares of Intel by 0.3% during the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after purchasing an additional 318,495 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares during the period. Norges Bank bought a new stake in shares of Intel during the fourth quarter worth $2,424,202,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 543.5% in the 4th 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 purchasing an additional 31,575,084 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INTC shares. The Goldman Sachs Group cut their price objective on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Susquehanna cut their target price on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. HSBC lowered their target price on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Wedbush dropped their target price on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Roth Mkm lowered their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Three investment 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’s stock. According to MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $39.58.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $30.29 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought 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. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.28 during trading on Monday, hitting $30.69. The company had a trading volume of 3,299,199 shares, compared to its average volume of 46,495,074. Intel Co. has a fifty-two week low of $29.73 and a fifty-two week high of $51.28. The stock has a fifty day simple moving average of $31.08 and a two-hundred day simple moving average of $39.46. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $130.65 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 14.76 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 net margin of 7.36% and a return on equity of 2.19%. On average, research analysts expect that Intel Co. will post 0.09 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.63%. 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.