AMF Tjanstepension AB has reduced its stake in Intel Co. (NASDAQ: INTC) by 47.5% in the first quarter, according to their recent filing with the Securities and Exchange Commission. The firm now owns 392,276 shares of the chipmaker, down from 355,467 shares. Other institutional investors and hedge funds have also made changes to their positions in the stock, with 64.53% of shares belonging to them.
CEO Patrick P. Gelsinger purchased 4,100 shares of Intel on May 1, at an average cost of $30.29 per share. This transaction was disclosed in a filing with the SEC. In addition, Gelsinger acquired 4,000 shares on April 29 at an average price of $31.42 per share. Insiders now own 0.04% of the company’s shares.
Several brokerage firms have commented on INTC, with varying price targets and ratings. Wedbush, Rosenblatt Securities, JPMorgan Chase & Co., and Bank of America all provided insights on Intel’s stock. StockNews.com upgraded Intel from a “sell” to a “hold” rating. The consensus rating for the stock is currently “hold” with an average price target of $39.58.
Intel’s shares rose by 1.2% and opened at $30.97 on Friday. The company reported quarterly earnings on April 25, with earnings per share coming in below estimates. Intel also declared a quarterly dividend, with a yield of 1.61%. The company’s payout ratio is currently 52.08%.
Intel Corporation operates globally and offers a range of computer products and services. Its segments include Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. The company’s product portfolio includes CPUs, chipsets, SoCs, processors, GPUs, FPGAs, memory, storage, connectivity, and networking products.
For more information about hedge fund ownership of INTC stock and insider trading, visit HoldingsChannel.com. Additionally, institutional ownership of INTC stock by quarter can be viewed in a chart provided on MarketBeat.com. Subscribe to MarketBeat.com’s free daily newsletter for the latest news and analyst ratings for Intel and related companies.
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