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Boyd Watterson Asset Management LLC OH Trims Holdings in Intel Co. (NASDAQ:INTC)

Financial News Live ·  Mar 25, 2023 02:22

Boyd Watterson Asset Management LLC OH trimmed its position in Intel Co. (NASDAQ:INTC – Get Rating) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,963 shares of the chip maker's stock after selling 1,428 shares during the period. Boyd Watterson Asset Management LLC OH's holdings in Intel were worth $765,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its stake in shares of Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker's stock valued at $814,727,000 after acquiring an additional 16,074,485 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Intel by 114.3% during the 3rd quarter. Two Sigma Advisers LP now owns 15,152,975 shares of the chip maker's stock valued at $390,492,000 after acquiring an additional 8,080,700 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Intel by 125.7% during the 3rd quarter. Two Sigma Investments LP now owns 9,132,614 shares of the chip maker's stock valued at $235,347,000 after acquiring an additional 5,085,561 shares during the last quarter. State Street Corp increased its stake in shares of Intel by 2.3% during the 3rd quarter. State Street Corp now owns 180,279,279 shares of the chip maker's stock valued at $4,645,797,000 after acquiring an additional 4,129,574 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Intel by 107.5% during the 3rd quarter. SG Americas Securities LLC now owns 274,813 shares of the chip maker's stock valued at $7,082,000 after acquiring an additional 3,936,526 shares during the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on INTC. Cowen dropped their price objective on shares of Intel from $31.00 to $26.00 and set a "market perform" rating for the company in a research note on Friday, January 27th. Truist Financial dropped their target price on shares of Intel from $33.00 to $29.00 in a research report on Friday, January 27th. Rosenblatt Securities dropped their target price on shares of Intel from $20.00 to $17.00 and set a "sell" rating for the company in a research report on Friday, January 27th. Wedbush reissued an "underperform" rating and set a $20.00 target price (down previously from $23.00) on shares of Intel in a research report on Monday, January 23rd. Finally, Mizuho dropped their target price on shares of Intel from $32.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, January 27th. Eight research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of "Hold" and a consensus target price of $29.48.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 9,700 shares of the business's stock in a transaction on Thursday, February 23rd. The shares were bought at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the purchase, the chief executive officer now owns 18,700 shares of the company's stock, valued at approximately $480,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger bought 9,700 shares of the business's stock in a transaction on Thursday, February 23rd. The shares were bought at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the purchase, the chief executive officer now owns 18,700 shares of the company's stock, valued at approximately $480,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 9,000 shares of the business's stock in a transaction on Tuesday, January 31st. The stock was bought at an average price of $27.83 per share, for a total transaction of $250,470.00. Following the completion of the purchase, the chief executive officer now directly owns 9,000 shares of the company's stock, valued at approximately $250,470. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 20,500 shares of company stock worth $549,768. 0.02% of the stock is owned by insiders.

Intel Stock Performance

INTC traded up $0.55 during trading hours on Friday, hitting $29.58. 7,974,685 shares of the stock were exchanged, compared to its average volume of 45,187,582. The stock has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $28.06. Intel Co. has a 12 month low of $24.59 and a 12 month high of $52.51. The stock has a market cap of $122.37 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 9.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.57 and a quick ratio of 1.16.

Intel (NASDAQ:INTC – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a return on equity of 7.45% and a net margin of 12.71%. The firm had revenue of $14.04 billion for the quarter, compared to the consensus estimate of $14.49 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business's revenue for the quarter was down 31.6% compared to the same quarter last year. Analysts anticipate that Intel Co. will post 0.55 earnings per share for the current year.

Intel Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Sunday, May 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 4th. Intel's payout ratio is 74.49%.

Intel Profile

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.

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