E. Ohman J or Asset Management AB Reduces Stake in Intel Co. (NASDAQ:INTC)

E. Ohman J or Asset Management AB lowered its position in Intel Co. (NASDAQ:INTC) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,900 shares of the chip maker’s stock after selling 15,200 shares during the period. E. Ohman J or Asset Management AB’s holdings in Intel were worth $4,009,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Capital International Investors increased its position in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp grew its position in Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the period. Davis Selected Advisers grew its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares during the period. Caxton Associates LP purchased a new stake in Intel during the second quarter valued at approximately $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after acquiring an additional 4,272,395 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 1.6 %

Shares of NASDAQ:INTC opened at $22.34 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The business has a 50 day simple moving average of $21.55 and a two-hundred day simple moving average of $27.67. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a market capitalization of $95.10 billion, a PE ratio of 23.27 and a beta of 1.03.

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

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.24%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Analysts Set New Price Targets

Several research firms have recently commented on INTC. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. Finally, Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.92.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.