Catalyst Capital Advisors LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC – Free Report) by 27.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,341 shares of the chip maker’s stock after selling 882 shares during the period. Catalyst Capital Advisors LLC’s holdings in Intel were worth $76,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its holdings in shares of Intel by 74,965.4% during the 1st quarter. Financial Gravity Asset Management Inc. now owns 19,517 shares of the chip maker’s stock worth $7,684,000 after buying an additional 19,491 shares during the last quarter. Formula Growth Ltd. increased its holdings in Intel by 24.2% in the 1st quarter. Formula Growth Ltd. now owns 131,694 shares of the chip maker’s stock valued at $4,302,000 after purchasing an additional 25,694 shares in the last quarter. Fort Sheridan Advisors LLC increased its holdings in Intel by 19.9% in the 1st quarter. Fort Sheridan Advisors LLC now owns 115,231 shares of the chip maker’s stock valued at $3,765,000 after purchasing an additional 19,162 shares in the last quarter. Gitterman Wealth Management LLC acquired a new stake in Intel in the 1st quarter valued at $227,000. Finally, Gladstone Institutional Advisory LLC increased its holdings in Intel by 21.6% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 43,778 shares of the chip maker’s stock valued at $1,430,000 after purchasing an additional 7,777 shares in the last quarter. 60.84% of the stock is currently owned by institutional investors and hedge funds.
Intel Price Performance
NASDAQ INTC opened at $38.01 on Monday. Intel Co. has a 12 month low of $24.59 and a 12 month high of $38.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.15. The firm has a market capitalization of $159.19 billion, a PE ratio of -172.76 and a beta of 0.89. The company’s 50 day simple moving average is $34.41 and its 200 day simple moving average is $31.81.
Intel Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were given a $0.125 dividend. The ex-dividend date was Friday, August 4th. This represents a $0.50 annualized dividend and a yield of 1.32%. Intel’s dividend payout ratio (DPR) is -227.26%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. StockNews.com assumed coverage on Intel in a report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on Intel from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Thursday, July 27th. Wedbush upped their price objective on shares of Intel from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Finally, Mizuho upped their price objective on shares of Intel from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.55.
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Insiders Place Their Bets
In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, the chief executive officer now owns 105,495 shares in the company, valued at approximately $3,653,291.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, the chief executive officer now owns 105,495 shares in the company, valued at approximately $3,653,291.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the transaction, the chief executive officer now owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.
Intel Profile
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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