Retirement Systems of Alabama Sells 17,780 Shares of Intel Co. (NASDAQ:INTC)

Retirement Systems of Alabama lessened its holdings in Intel Co. (NASDAQ:INTC) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 929,167 shares of the chip maker’s stock after selling 17,780 shares during the period. Retirement Systems of Alabama’s holdings in Intel were worth $46,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System lifted its position in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 valued at $1,376,520,000 after buying an additional 6,064,950 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Intel by 17.8% during 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 purchased a new position in shares of Intel during the 4th quarter valued at $251,250,000. Finally, Parnassus Investments LLC lifted its position in shares of Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after buying an additional 4,631,905 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTC. Barclays dropped their price target on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday. Mizuho dropped their price objective on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Wedbush dropped their price objective on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a report on Friday. Raymond James dropped their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Finally, The Goldman Sachs Group dropped their price objective on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $39.75.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate insiders.

Intel Stock Performance

Shares of NASDAQ INTC opened at $31.95 on Monday. The stock’s 50-day moving average is $40.88 and its 200 day moving average is $42.30. 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 Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The stock has a market cap of $135.08 billion, a price-to-earnings ratio of 33.24, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 2.19% and a net margin of 7.36%. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same period last year, the company earned $0.10 EPS. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.56%. Intel’s payout ratio is 52.08%.

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.