Intel Co. (NASDAQ:INTC) Shares Sold by CMG Global Holdings LLC

CMG Global Holdings LLC cut its position in Intel Co. (NASDAQ:INTC) by 8.1% in the second quarter, Holdings Channel reports. The firm owned 9,102 shares of the chip maker’s stock after selling 804 shares during the period. CMG Global Holdings LLC’s holdings in Intel were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors raised its stake in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD grew its position in Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of a number of recent analyst reports. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Morgan Stanley decreased their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Susquehanna reduced their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Finally, Truist Financial dropped their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $32.04.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by company insiders.

Intel Stock Performance

NASDAQ:INTC opened at $23.91 on Monday. The firm has a market cap of $101.78 billion, a PE ratio of 24.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm has a 50 day simple moving average of $22.58 and a 200-day simple moving average of $30.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. On average, equities analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.09%. Intel’s payout ratio is 52.08%.

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.