Intel Co. (NASDAQ:INTC) Position Trimmed by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,409,438 shares of the chip maker’s stock after selling 41,639 shares during the period. M&T Bank Corp’s holdings in Intel were worth $70,824,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in INTC. California Public Employees Retirement System grew its position in shares of 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 during the last quarter. Wellington Management Group LLP grew its position in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt bought a new position in shares of Intel during the fourth quarter worth about $251,250,000. Parnassus Investments LLC grew its position in shares of Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after acquiring an additional 4,631,905 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in shares of Intel by 6.0% during the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after acquiring an additional 4,226,790 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $31.42 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is available through this link. In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction that occurred on 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 transaction, 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. Company insiders own 0.04% of the company’s stock.

Intel Stock Up 1.3 %

NASDAQ:INTC traded up $0.39 during mid-day trading on Friday, reaching $30.90. The stock had a trading volume of 36,794,828 shares, compared to its average volume of 58,447,700. The business’s 50 day moving average is $39.60 and its 200 day moving average is $42.02. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The stock has a market cap of $131.54 billion, a P/E ratio of 32.19, a PEG ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel’s dividend payout ratio is currently 52.08%.

Analysts Set New Price Targets

Several research firms recently weighed in on INTC. Raymond James reduced their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, January 26th. HSBC reduced their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. TD Cowen reduced their price objective on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Citigroup reduced their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.75.

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.