Carret Asset Management LLC Decreases Position in Intel Co. (NASDAQ:INTC)

Carret Asset Management LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,567 shares of the chip maker’s stock after selling 432 shares during the quarter. Carret Asset Management LLC’s holdings in Intel were worth $5,104,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INTC. California Public Employees Retirement System lifted its stake in Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Intel by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after purchasing an additional 6,064,950 shares during the period. Wellington Management Group LLP increased its holdings in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Intel in the fourth quarter valued at approximately $251,250,000. Finally, Parnassus Investments LLC increased its holdings in shares of Intel by 24.7% in the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after purchasing an additional 4,631,905 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INTC. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. The Goldman Sachs Group boosted their target price on Intel from $34.00 to $39.00 and gave the company a “sell” rating in a report on Friday, January 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Mizuho dropped their price objective on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus target price of $42.38.

Intel Price Performance

Shares of NASDAQ:INTC traded up $0.22 on Wednesday, hitting $34.50. The company had a trading volume of 53,139,284 shares, compared to its average volume of 47,006,406. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The business has a 50 day moving average of $41.48 and a 200 day moving average of $42.36. The company has a market cap of $145.87 billion, a PE ratio of 88.46, a PEG ratio of 3.09 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the prior year, the business earned $0.10 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post 0.61 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.45%. Intel’s dividend payout ratio is currently 128.21%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Intel 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.