New York Life Investment Management LLC Cuts Stake in Intel Co. (NASDAQ:INTC)

New York Life Investment Management LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 671,959 shares of the chip maker's stock after selling 68,718 shares during the quarter. New York Life Investment Management LLC's holdings in Intel were worth $33,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Barrett & Company Inc. raised its position in Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker's stock valued at $184,000 after purchasing an additional 210 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker's stock worth $372,000 after buying an additional 216 shares during the last quarter. New Millennium Group LLC increased 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 acquiring an additional 231 shares during the period. Waldron Private Wealth LLC increased its position in Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker's stock valued at $2,063,000 after acquiring an additional 232 shares during the period. Finally, Spreng Capital Management Inc. increased its position in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker's stock valued at $987,000 after acquiring an additional 246 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 0.3 %

Shares of Intel stock traded down $0.10 during trading hours on Wednesday, reaching $30.37. 58,406,164 shares of the company's stock were exchanged, compared to its average volume of 48,681,617. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The firm has a market capitalization of $129.29 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 3.31 and a beta of 1.00. The company has a fifty day moving average of $40.35 and a 200-day moving average of $42.23. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, May 6th. Intel's dividend payout ratio is presently 52.08%.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTC. Cantor Fitzgerald restated a "neutral" rating and issued a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Benchmark restated a "buy" rating and issued a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Barclays dropped their target price on Intel from $44.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. Raymond James dropped their target price on Intel from $54.00 to $52.00 and set an "outperform" rating on the stock in a research report on Friday, January 26th. Finally, Morgan Stanley dropped their target price on Intel from $48.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $39.75.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the purchase, the chief executive officer now directly owns 35,275 shares of the company's stock, valued at $1,108,340.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company's stock.

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.

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