Desjardins Global Asset Management Inc. Sells 3,178 Shares of Intel Co. (NASDAQ:INTC)

Desjardins Global Asset Management Inc. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,743 shares of the chip maker’s stock after selling 3,178 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Intel were worth $1,093,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of INTC. New Millennium Group LLC increased its position in shares of Intel by 87.2% during 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 worth about $36,000. Cornerstone Planning Group LLC purchased a new stake in Intel in the 2nd quarter worth about $25,000. Lumature Wealth Partners LLC increased its holdings in Intel by 146.7% in the 1st quarter. Lumature Wealth Partners LLC now owns 824 shares of the chip maker’s stock worth $41,000 after acquiring an additional 490 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in Intel in the 3rd quarter worth about $30,000. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of Intel stock opened at $36.26 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The business’s 50 day simple moving average is $42.32 and its two-hundred day simple moving average is $42.40. The stock has a market capitalization of $153.31 billion, a P/E ratio of 92.98, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. Intel Co. has a one year low of $26.85 and a one year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Analysts forecast that Intel Co. will post 0.62 EPS for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.38%. Intel’s dividend payout ratio (DPR) is currently 128.21%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired 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 approximately $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. Wells Fargo & Company decreased their price objective on Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Barclays lifted their target price on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Susquehanna reaffirmed a “neutral” rating and set a $42.00 target price on shares of Intel in a report on Thursday, April 4th. Finally, The Goldman Sachs Group lifted 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. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.69.

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.