Public Employees Retirement Association of Colorado Sells 11,265 Shares of Intel Co. (NASDAQ:INTC)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,265 shares of the chip maker’s stock after selling 11,265 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Intel were worth $18,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. America First Investment Advisors LLC acquired a new stake in Intel during the 2nd quarter worth $25,000. Frazier Financial Advisors LLC bought a new position in shares of Intel in the 4th quarter worth $27,000. Burkett Financial Services LLC acquired a new stake in shares of Intel during the fourth quarter worth $27,000. Tributary Capital Management LLC bought a new stake in Intel in the first quarter valued at about $27,000. Finally, Spartan Fund Management Inc. acquired a new position in Intel in the second quarter valued at about $31,000. 64.53% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $21.84 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The business has a 50-day moving average of $23.67 and a 200-day moving average of $30.98. The stock has a market capitalization of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTC. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Susquehanna lowered their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Six research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.04.

Intel 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.