Avity Investment Management Inc. Lowers Stock Position in Intel Co. (NASDAQ:INTC)

Avity Investment Management Inc. cut its position in shares of Intel Co. (NASDAQ:INTC) by 39.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,750 shares of the chip maker’s stock after selling 3,776 shares during the period. Avity Investment Management Inc.’s holdings in Intel were worth $254,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Slow Capital Inc. lifted its holdings in Intel by 0.9% during the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after purchasing an additional 508 shares in the last quarter. Altus Wealth Group LLC lifted its holdings in Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 5,759 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Intel by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after purchasing an additional 2,915 shares in the last quarter. Alera Investment Advisors LLC acquired a new stake in shares of Intel in the fourth quarter valued at about $201,000. Finally, Callan Capital LLC raised its position in shares of Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after buying an additional 1,474 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on INTC. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Mizuho reduced their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Sanford C. Bernstein reduced their target price on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Susquehanna cut their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.58.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Intel Stock Up 1.2 %

Intel stock traded up $0.38 during trading on Friday, reaching $30.97. The stock had a trading volume of 41,467,675 shares, compared to its average volume of 40,390,884. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The business has a 50 day moving average price of $31.08 and a 200 day moving average price of $39.53. 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 stock has a market cap of $131.84 billion, a PE ratio of 32.26, a P/E/G ratio of 14.58 and a beta of 1.06.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. On average, analysts predict that Intel Co. will post 0.09 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.125 per share. 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 1.61%. Intel’s payout ratio is currently 52.08%.

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.