Truist Financial Corp Sells 171,430 Shares of Intel Co. (NASDAQ:INTC)

Truist Financial Corp lessened its holdings in Intel Co. (NASDAQ:INTC) by 11.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,372,573 shares of the chip maker’s stock after selling 171,430 shares during the quarter. Truist Financial Corp’s holdings in Intel were worth $68,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Slow Capital Inc. raised its position in shares of Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after buying an additional 508 shares in the last quarter. Altus Wealth Group LLC raised its position in shares of Intel by 29.4% in the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after buying an additional 5,759 shares in the last quarter. Alera Investment Advisors LLC purchased a new stake in shares of Intel in the fourth quarter worth $201,000. Callan Capital LLC raised its position in shares of Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock worth $884,000 after buying an additional 1,474 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in shares of Intel by 1.3% in the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after buying an additional 574 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of the business’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 transaction, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now directly 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.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Evercore ISI lowered their price target on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research report on Friday. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday. Four 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 company. According to MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Down 9.2 %

NASDAQ INTC opened at $31.88 on Friday. The business’s 50-day moving average is $40.88 and its 200 day moving average is $42.27. 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 stock has a market capitalization of $134.79 billion, a PE ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 2.22% and a net margin of 7.36%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Sell-side analysts forecast that Intel Co. will post 0.6 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 1.57%. Intel’s payout ratio is 52.08%.

Intel 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.