Avity Investment Management Inc. Trims Stake in Intel Co. (NASDAQ:INTC)

Avity Investment Management Inc. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 39.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,750 shares of the chip maker’s stock after selling 3,776 shares during the quarter. Avity Investment Management Inc.’s holdings in Intel were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. Mather Group LLC. lifted its stake in shares of Intel by 32.8% in the third quarter. Mather Group LLC. now owns 32,917 shares of the chip maker’s stock worth $1,170,000 after buying an additional 8,126 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Intel in the third quarter worth approximately $1,496,000. Morningstar Investment Services LLC bought a new position in shares of Intel in the third quarter worth approximately $340,000. Cape Cod Five Cents Savings Bank lifted its stake in shares of Intel by 98.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 37,666 shares of the chip maker’s stock worth $1,339,000 after buying an additional 18,657 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in shares of Intel by 15.7% in the third quarter. CWA Asset Management Group LLC now owns 18,058 shares of the chip maker’s stock worth $642,000 after buying an additional 2,448 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

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

Intel Price Performance

INTC traded up $0.38 during trading on Friday, hitting $30.97. 41,467,675 shares of the company traded hands, compared to its average volume of 40,390,884. The company has a market cap of $131.84 billion, a PE ratio of 32.26, a P/E/G ratio of 14.58 and a beta of 1.06. The stock’s 50-day simple moving average is $31.08 and its two-hundred day simple moving average is $39.53. Intel Co. has a 1 year low of $29.73 and a 1 year high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. As a group, sell-side analysts anticipate that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Roth Mkm lowered their price objective on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group lowered their price objective on shares of Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.58.

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.