Rafferty Asset Management LLC Decreases Holdings in Intel Co. (NASDAQ:INTC)

Rafferty Asset Management LLC reduced its position in Intel Co. (NASDAQ:INTCFree Report) by 10.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,947,417 shares of the chip maker’s stock after selling 1,082,708 shares during the period. Intel accounts for approximately 1.9% of Rafferty Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Rafferty Asset Management LLC owned approximately 0.21% of Intel worth $449,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC boosted its stake in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Intel during the fourth quarter worth $27,000. Burkett Financial Services LLC acquired a new stake in shares of Intel during the fourth quarter worth $27,000. Raleigh Capital Management Inc. increased its holdings in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after purchasing an additional 362 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Intel in the fourth quarter valued at about $36,000. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

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

Intel Stock Performance

Shares of NASDAQ INTC traded down $0.26 during mid-day trading on Tuesday, reaching $30.03. 50,949,883 shares of the company were exchanged, compared to its average volume of 48,051,828. Intel Co. has a twelve month low of $29.69 and a twelve month high of $51.28. The stock has a market capitalization of $127.84 billion, a P/E ratio of 31.44, a P/E/G ratio of 14.71 and a beta of 1.06. The company’s 50-day simple moving average is $34.34 and its 200-day simple moving average is $41.19. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTCGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (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 return on equity of 2.19% and a net margin of 7.36%. As a group, research analysts predict that Intel Co. will post 0.09 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.67%. Intel’s payout ratio is 52.08%.

Analyst Ratings Changes

INTC has been the subject of a number of recent analyst reports. Morgan Stanley lowered 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. UBS Group increased their target price on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, April 26th. Susquehanna lowered their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Citigroup reduced their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.58.

Read Our Latest Stock Analysis on INTC

Intel 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.

See Also

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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