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

Desjardins Global Asset Management Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 12.8% in the 4th quarter, according to the company in its most recent 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 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in INTC. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of Intel by 173.6% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after acquiring an additional 342,649 shares in the last quarter. Axiom Financial Strategies LLC increased its position in Intel by 21.6% during the 1st quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after buying an additional 1,056 shares in the last quarter. Fairfield Bush & CO. acquired a new position in Intel during the 1st quarter valued at about $142,000. Retirement Income Solutions Inc increased its position in Intel by 5.1% during the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Intel by 26.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after buying an additional 1,244,247 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho reduced their target price on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Truist Financial reiterated a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Finally, HSBC dropped their price target on Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, January 26th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.69.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of Intel stock opened at $36.26 on Wednesday. The business has a 50 day simple moving average of $42.32 and a two-hundred day simple moving average of $42.40. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The stock has a market capitalization of $153.31 billion, a P/E ratio of 92.98, a PEG ratio of 3.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Intel Co. will post 0.62 EPS for the current fiscal year.

Intel Dividend Announcement

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

Intel Company 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.