Sovereign Financial Group Inc. Sells 406 Shares of Intel Co. (NASDAQ:INTC)

Sovereign Financial Group Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,102 shares of the chip maker’s stock after selling 406 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Intel were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after buying an additional 4,678,169 shares during the period. Capital International Investors increased its position in Intel by 0.3% during the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after acquiring an additional 318,495 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after acquiring an additional 475,636 shares during the period. Norges Bank bought a new stake in shares of Intel in the 4th quarter worth about $2,424,202,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 543.5% during the 4th 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 during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTC. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Morgan Stanley decreased their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. The Goldman Sachs Group cut their price objective on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. StockNews.com upgraded Intel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company cut their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $39.58.

Intel Stock Up 0.2 %

NASDAQ:INTC opened at $30.59 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28. The company has a market cap of $130.22 billion, a PE ratio of 31.86, a P/E/G ratio of 14.56 and a beta of 1.06. The company’s 50 day moving average is $31.24 and its two-hundred day moving average is $39.68.

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

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend 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%.

About Intel

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.