Intel Co. (NASDAQ:INTC) Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,069 shares of the chip maker’s stock after selling 402 shares during the period. Traynor Capital Management Inc.’s holdings in Intel were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. Norges Bank acquired a new position in Intel during the fourth quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD raised 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 valued at $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 buying an additional 5,217,549 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of Intel in the fourth quarter valued at approximately $251,250,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. HSBC cut their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Sanford C. Bernstein dropped their price target 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. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, April 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, April 26th. Finally, Morgan Stanley dropped their price target on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.58.

Intel Trading Down 1.7 %

INTC opened at $30.57 on Tuesday. The stock has a market capitalization of $130.14 billion, a PE ratio of 31.84, a P/E/G ratio of 14.82 and a beta of 1.06. The firm’s fifty day moving average price is $31.45 and its 200 day moving average price is $39.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a 12-month low of $29.73 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. As a group, research analysts expect that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced 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 was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.64%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insiders Place Their Bets

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

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.