Gateway Investment Advisers LLC Sells 1,760 Shares of Intel Co. (NASDAQ:INTC)

Gateway Investment Advisers LLC cut its holdings in shares of Intel Co. (NASDAQ:INTCFree Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 803,186 shares of the chip maker’s stock after selling 1,760 shares during the period. Gateway Investment Advisers LLC’s holdings in Intel were worth $35,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. Norges Bank acquired a new stake in Intel in the 4th quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD lifted its position in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Intel by 102.6% during the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Wellington Management Group LLP grew its position in Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in Intel in the 4th quarter valued at $251,250,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intel

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

Analyst Ratings Changes

INTC has been the topic of a number of recent research reports. Barclays lowered their target price on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a research report on Thursday, May 16th. UBS Group raised their target price on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Jefferies Financial Group initiated coverage on shares of Intel in a research report on Monday, May 13th. They issued a “hold” rating and a $34.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $39.58.

View Our Latest Stock Report on INTC

Intel Trading Up 0.6 %

Shares of NASDAQ:INTC traded up $0.17 during trading on Tuesday, reaching $30.74. The stock had a trading volume of 9,759,278 shares, compared to its average volume of 46,995,461. Intel Co. has a 52 week low of $29.73 and a 52 week high of $51.28. The firm’s fifty day moving average is $31.45 and its 200 day moving average is $39.83. The stock has a market cap of $130.86 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 14.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTCGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. As a group, equities analysts forecast that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is 52.08%.

Intel Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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