Sage Investment Advisers LLC Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Sage Investment Advisers LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 25.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,435 shares of the chip maker’s stock after selling 1,550 shares during the quarter. Sage Investment Advisers LLC’s holdings in Intel were worth $223,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Intel by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,407,034 shares of the chip maker’s stock valued at $1,427,453,000 after buying an additional 156,761 shares during the last quarter. Northern Financial Advisors Inc raised its stake in Intel by 101.4% in the fourth quarter. Northern Financial Advisors Inc now owns 26,485 shares of the chip maker’s stock valued at $1,331,000 after buying an additional 13,335 shares during the last quarter. Peregrine Asset Advisers Inc. raised its stake in Intel by 2.0% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 25,720 shares of the chip maker’s stock valued at $1,292,000 after buying an additional 500 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Intel by 15.7% in the fourth quarter. Apollon Wealth Management LLC now owns 144,689 shares of the chip maker’s stock valued at $7,271,000 after buying an additional 19,611 shares during the last quarter. Finally, Lincoln National Corp increased its holdings in shares of Intel by 0.3% in the fourth quarter. Lincoln National Corp now owns 122,614 shares of the chip maker’s stock valued at $6,161,000 after purchasing an additional 412 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INTC shares. JPMorgan Chase & Co. cut their price objective on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday, April 26th. Sanford C. Bernstein cut their price objective on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Mizuho cut their price objective on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, April 26th. Finally, Evercore ISI cut their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.68 during midday trading on Wednesday, hitting $30.00. The stock had a trading volume of 61,337,691 shares, compared to its average volume of 48,554,020. 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 $127.71 billion, a PE ratio of 31.15, a P/E/G ratio of 10.05 and a beta of 1.09. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $39.12 and a 200-day simple moving average of $42.05.

Intel Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.67%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the purchase, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

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.