Atlantic Union Bankshares Corp Sells 5,182 Shares of Intel Co. (NASDAQ:INTC)

Atlantic Union Bankshares Corp trimmed its position in Intel Co. (NASDAQ:INTC) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,526 shares of the chip maker’s stock after selling 5,182 shares during the period. Atlantic Union Bankshares Corp’s holdings in Intel were worth $2,364,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Intel during the fourth quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD raised its holdings in Intel by 543.5% during 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 acquiring an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System raised 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 acquiring an additional 8,140,835 shares in the last quarter. Wellington Management Group LLP raised its stake 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 buying an additional 5,217,549 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in Intel in the fourth quarter valued at approximately $251,250,000. 64.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction that occurred 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 acquisition, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the purchase, 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. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HSBC dropped their price objective on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Wedbush decreased their target price on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Bank of America decreased their target price on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Citigroup decreased their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Finally, Jefferies Financial Group initiated coverage on Intel in a research report on Monday, May 13th. They issued a “hold” rating and a $34.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $39.58.

Intel Price Performance

INTC stock opened at $30.97 on Friday. The company has a market capitalization of $131.84 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 14.58 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 Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The business has a 50-day simple moving average of $31.08 and a two-hundred day simple moving average of $39.53.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.76 billion. Research analysts expect that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. Intel’s dividend payout ratio is currently 52.08%.

Intel Company 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.