Illinois Municipal Retirement Fund Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Illinois Municipal Retirement Fund decreased its position in Intel Co. (NASDAQ:INTC - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,175 shares of the chip maker's stock after selling 93,335 shares during the period. Illinois Municipal Retirement Fund's holdings in Intel were worth $14,983,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of INTC. RFG Advisory LLC lifted its stake in shares of Intel by 1.0% during the third quarter. RFG Advisory LLC now owns 31,100 shares of the chip maker's stock worth $1,106,000 after buying an additional 294 shares during the period. Douglas Lane & Associates LLC increased its position in shares of Intel by 3.6% during the third quarter. Douglas Lane & Associates LLC now owns 45,999 shares of the chip maker's stock valued at $1,635,000 after acquiring an additional 1,600 shares during the last quarter. Traynor Capital Management Inc. lifted its stake in Intel by 7.0% during the 3rd quarter. Traynor Capital Management Inc. now owns 9,939 shares of the chip maker's stock worth $353,000 after acquiring an additional 648 shares in the last quarter. Guidance Capital Inc. boosted its holdings in Intel by 5.2% in the third quarter. Guidance Capital Inc. now owns 19,848 shares of the chip maker's stock valued at $708,000 after purchasing an additional 977 shares during the period. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Intel by 8.5% during the third quarter. Flagship Harbor Advisors LLC now owns 30,164 shares of the chip maker's stock worth $1,072,000 after purchasing an additional 2,369 shares in the last quarter. Institutional investors own 64.53% of the company's stock.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the 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 acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the company's stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost 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. Insiders own 0.04% of the company's stock.

Analyst Ratings Changes

INTC has been the subject of several recent analyst reports. 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 research note on Monday, April 15th. Raymond James cut their price objective on Intel from $54.00 to $52.00 and set an "outperform" rating on the stock in a research note on Friday, January 26th. Truist Financial restated a "hold" rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Rosenblatt Securities reaffirmed a "sell" rating and issued a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. Finally, Morgan Stanley lifted their price target on shares of Intel from $39.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday, January 29th. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intel has an average rating of "Hold" and a consensus price target of $42.62.

Intel Stock Performance

INTC stock traded up $0.21 during midday trading on Monday, hitting $34.41. 39,885,566 shares of the company traded hands, compared to its average volume of 46,896,105. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The business has a 50 day simple moving average of $41.66 and a 200-day simple moving average of $42.37. The stock has a market capitalization of $145.49 billion, a price-to-earnings ratio of 88.23, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $15.16 billion. During the same period in the prior year, the business earned $0.10 EPS. Intel's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Intel Co. will post 0.61 earnings per share for the current year.

Intel Dividend Announcement

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

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.

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.