Intel Co. (NASDAQ:INTC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,366,913 shares of the chip maker’s stock after selling 591,353 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Intel worth $73,303,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of INTC. Price T Rowe Associates Inc. MD grew 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 valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. Capital International Investors grew its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp grew its stake in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Davis Selected Advisers grew its stake in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after acquiring an additional 4,678,169 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $21.47 on Wednesday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The firm’s fifty day simple moving average is $24.45 and its 200-day simple moving average is $31.29. The firm has a market capitalization of $91.40 billion, a price-to-earnings ratio of 22.36 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.33%. Intel’s payout ratio is 52.08%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INTC. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. Northland Securities dropped their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald dropped their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.04.

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.