Putnam Investments LLC cut its position in shares of Intel Co. (NASDAQ:INTC – Free Report) by 37.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 231,730 shares of the chip maker’s stock after selling 139,404 shares during the period. Putnam Investments LLC’s holdings in Intel were worth $7,571,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in Intel by 173.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares in the last quarter. Axiom Financial Strategies LLC raised its holdings in shares of Intel by 21.6% in the 1st quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after purchasing an additional 1,056 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Intel in the 1st quarter valued at about $142,000. Retirement Income Solutions Inc raised its holdings in shares of Intel by 5.1% in the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after purchasing an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Intel by 26.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after purchasing an additional 1,244,247 shares in the last quarter. Institutional investors own 60.84% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of Intel from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Friday, July 28th. Raymond James boosted their price target on shares of Intel from $35.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Thursday, July 27th. Wedbush boosted their price objective on shares of Intel from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Finally, Susquehanna boosted their price objective on shares of Intel from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Six equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.55.
Intel Stock Down 2.0 %
INTC stock opened at $37.88 on Friday. The firm’s fifty day simple moving average is $34.88 and its 200-day simple moving average is $32.09. The company has a market capitalization of $158.64 billion, a P/E ratio of -172.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.15. Intel Co. has a 12 month low of $24.59 and a 12 month high of $40.07.
Intel (NASDAQ:INTC – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. The firm had revenue of $12.95 billion for the quarter, compared to the consensus estimate of $12.03 billion. As a group, equities research analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.
Intel Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, August 4th. Intel’s dividend payout ratio (DPR) is presently -227.26%.
Insider Buying and Selling
In related news, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel stock in a transaction on Wednesday, August 2nd. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $3,653,291.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 3,250 shares of Intel stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the transaction, the chief executive officer now owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $34.63 per share, with a total value of $133,325.50. Following the completion of the transaction, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by 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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