AMG Funds LLC trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 39.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 26,239 shares of the chip maker’s stock after selling 17,436 shares during the period. AMG Funds LLC’s holdings in Intel were worth $1,367,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. LSV Asset Management raised its holdings in shares of Intel by 2.0% in the 1st quarter. LSV Asset Management now owns 24,760,162 shares of the chip maker’s stock worth $1,289,509,000 after purchasing an additional 482,570 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Intel by 14.7% in the 4th quarter. Alliancebernstein L.P. now owns 24,187,824 shares of the chip maker’s stock worth $1,116,510,000 after purchasing an additional 3,095,697 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Intel by 47.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock worth $1,094,509,000 after purchasing an additional 7,669,737 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Intel by 4.1% in the 1st quarter. Fisher Asset Management LLC now owns 22,690,661 shares of the chip maker’s stock worth $1,181,730,000 after purchasing an additional 887,657 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in shares of Intel by 3.3% in the 4th quarter. Sanders Capital LLC now owns 15,222,695 shares of the chip maker’s stock worth $763,613,000 after purchasing an additional 489,900 shares in the last quarter. Institutional investors own 66.93% of the company’s stock.

Shares of Intel opened at $49.30 on Tuesday, according to Marketbeat Ratings. Intel Co. has a 52 week low of $34.38 and a 52 week high of $57.60. The company has a market cap of $232.18 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.43 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 26th. The chip maker reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.05. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm had revenue of $16.96 billion for the quarter, compared to the consensus estimate of $16.78 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. equities research analysts predict that Intel Co. will post 4.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, August 6th. Intel’s payout ratio is presently 34.68%.

A number of analysts recently commented on the stock. Stifel Nicolaus reiterated a “neutral” rating and issued a $60.00 target price on shares of Intel in a report on Monday, July 16th. Cowen dropped their target price on shares of Intel from $54.00 to $52.00 and set a “market perform” rating on the stock in a report on Friday, July 27th. Barclays downgraded shares of Intel from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $62.00 to $53.00 in a report on Monday. Vetr downgraded shares of Intel from a “buy” rating to a “hold” rating and set a $54.70 target price on the stock. in a report on Wednesday, April 18th. Finally, Royal Bank of Canada reiterated a “neutral” rating and issued a $60.00 target price on shares of Intel in a report on Monday, July 16th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. Intel has a consensus rating of “Hold” and a consensus price target of $55.53.

In related news, EVP Steven Ralph Rodgers sold 2,213 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $52.43, for a total transaction of $116,027.59. Following the transaction, the executive vice president now directly owns 23,268 shares of the company’s stock, valued at $1,219,941.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Holmes Swan acquired 5,243 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were bought at an average cost of $47.69 per share, for a total transaction of $250,038.67. Following the completion of the transaction, the chief executive officer now directly owns 71,672 shares of the company’s stock, valued at approximately $3,418,037.68. The disclosure for this purchase can be found here. Insiders have sold 4,065 shares of company stock worth $205,200 over the last ninety days. 0.03% of the stock is currently owned by insiders.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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