Schnieders Capital Management LLC Sells 19,710 Shares of Intel Co. (NASDAQ:INTC)

Schnieders Capital Management LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 21.9% during the fourth quarter, Holdings Channel reports. The fund owned 70,140 shares of the chip maker’s stock after selling 19,710 shares during the period. Schnieders Capital Management LLC’s holdings in Intel were worth $3,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System increased its holdings in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after buying an additional 6,064,950 shares during the period. Wellington Management Group LLP grew its stake in Intel by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after buying an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt bought a new position in Intel in the 4th quarter valued at about $251,250,000. Finally, Parnassus Investments LLC lifted its position in Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after acquiring an additional 4,631,905 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.13 during trading on Tuesday, hitting $34.28. 46,719,967 shares of the company were exchanged, compared to its average volume of 46,893,191. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a market capitalization of $144.94 billion, a P/E ratio of 87.90, 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. The business’s 50 day moving average is $41.48 and its 200-day moving average is $42.36.

Intel (NASDAQ:INTC) last issued 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. The business had revenue of $15.40 billion during 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 revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Equities analysts forecast that Intel Co. will post 0.61 earnings per share for the current year.

Intel Dividend Announcement

The firm 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. This represents a $0.50 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on INTC shares. TD Cowen lowered their target price on Intel from $45.00 to $42.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Rosenblatt Securities reissued a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, February 23rd. Barclays boosted their target price on shares of Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Evercore ISI began coverage on shares of Intel in a report on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.38.

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.