Atlantic Union Bankshares Corp decreased its holdings in Intel Co. (NASDAQ:INTC) by 8.8% during the first quarter, according to the company’s recent filing with the Securities and Exchange Commission (SEC). The institutional investor sold 5,182 shares, leaving them with 53,526 shares of the chipmaker, valued at $2,364,000 at the end of the quarter.
Other institutional investors have also made changes to their holdings in Intel. Norges Bank acquired a new stake in the company worth approximately $2,424,202,000, while Price T Rowe Associates Inc. MD increased its holdings by 543.5% during the fourth quarter. California Public Employees Retirement System and Wellington Management Group LLP also reported increases in their stakes in Intel. Alecta Tjanstepension Omsesidigt bought a new stake in the chipmaker during the fourth quarter.
CEO Patrick P. Gelsinger also made several purchases of Intel stock in transactions throughout April and May. Insiders, including Gelsinger, now hold 0.04% of the company’s shares.
In terms of analyst predictions and recommendations, several reports have been issued on Intel. HSBC, Wedbush, Bank of America, and Citigroup all lowered their price targets on the stock, with Jefferies Financial Group initiating coverage with a “hold” rating. Currently, the consensus rating for Intel is “Hold,” with a consensus price target of $39.58.
Intel’s performance and financials show that the company reported earnings of ($0.06) per share for the quarter, falling short of the consensus estimate. The chipmaker had a return on equity of 2.19% and a net margin of 7.36%. Analysts anticipate that Intel will post EPS of $0.09 for the current fiscal year.
The company recently paid out a quarterly dividend to shareholders and announced an annualized dividend yield of 1.61%. Intel’s dividend payout ratio currently stands at 52.08%.
Intel Corporation operates globally, designing, developing, manufacturing, and selling computer and related products and services. Their product portfolio includes CPUs, chipsets, mobile and desktop processors, GPUs, FPGAs, and other semiconductor products.
For more information on Intel, including insider trading and 13F filings, investors can visit HoldingsChannel.com. MarketBeat.com also offers a free report on Intel for interested readers to access.
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