Intel Co. (NASDAQ:INTC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of Intel Co. (NASDAQ:INTC) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 566,400 shares of the chip maker’s stock after selling 12,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Intel were worth $13,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. bought a new position in shares of Intel in the second quarter valued at approximately $2,178,000. Fortis Group Advisors LLC boosted its holdings in shares of Intel by 1,052.9% during the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC purchased a new position in Intel in the third quarter valued at about $8,045,000. Brookstone Capital Management lifted its position in shares of Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after buying an additional 27,274 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its holdings in Intel by 21.1% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Daiwa America upgraded shares of Intel to a “hold” rating in a research note on Monday, August 26th. Barclays dropped their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. UBS Group decreased their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.15.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Up 1.5 %

Shares of Intel stock opened at $22.68 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a 50-day simple moving average of $21.59 and a two-hundred day simple moving average of $27.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a market capitalization of $96.98 billion, a PE ratio of 98.61 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.20%. Intel’s payout ratio is 217.40%.

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.