Intel Co. (NASDAQ:INTC) Position Trimmed by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,372,573 shares of the chip maker's stock after selling 171,430 shares during the quarter. Truist Financial Corp's holdings in Intel were worth $68,972,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. New Millennium Group LLC raised its position in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker's stock valued at $25,000 after purchasing an additional 231 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Intel in the 4th quarter valued at $36,000. Legacy Financial Group LLC purchased a new stake in Intel in the 3rd quarter valued at $30,000. Raleigh Capital Management Inc. raised its position in Intel by 62.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker's stock valued at $33,000 after purchasing an additional 362 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in Intel in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on INTC. TD Cowen dropped their price objective on shares of Intel from $42.00 to $35.00 and set a "hold" rating on the stock in a research note on Friday. Roth Mkm dropped their price objective on shares of Intel from $45.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday. Benchmark reissued a "buy" rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. HSBC dropped their price objective on shares of Intel from $44.00 to $37.00 and set a "hold" rating on the stock in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Intel from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $39.75.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 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 $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Patrick P. Gelsinger bought 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 $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Intel Price Performance

Shares of Intel stock traded down $3.23 on Friday, hitting $31.88. The company's stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $40.88 and a 200-day moving average price of $42.30. The company has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities research analysts expect that Intel Co. will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel's dividend payout ratio (DPR) 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.