Exchange Capital Management Inc. decreased its ownership stake in Intel Co. (NASDAQ: INTC) by 7.2% during the first quarter, according to a recent 13F filing with the SEC. The firm now holds 13,604 shares of the chipmaker after selling 1,049 shares. Other institutional investors also made adjustments to their positions in the company, with FARMERS & MERCHANTS TRUST Co OF LONG BEACH, Tributary Capital Management LLC, Steele Capital Management Inc., AlphaMark Advisors LLC, and Dominguez Wealth Management Solutions Inc. all increasing their holdings. Intel shares rose by 0.7% to $31.07, with a market capitalization of $132.26 billion. The company reported earnings per share of $0.06 for the quarter, slightly missing analyst estimates. Intel also announced a quarterly dividend of $0.125 per share, with a dividend payout ratio of 52.08%. CEO Patrick P. Gelsinger recently acquired shares of the company’s stock, further demonstrating confidence in Intel’s future prospects. Wall Street analysts have mixed opinions on the stock, with some raising price targets and others lowering them. Overall, the stock has a consensus rating of “hold” and a consensus price target of $39.58.
Intel Corporation is a renowned technology company that designs, develops, manufactures, and sells computing products and services globally. Its product portfolio includes central processing units, chipsets, systems-on-chips, processors, graphics processing units, domain-specific accelerators, and memory and storage solutions. Intel operates through various segments, catering to different computing needs. The company’s focus on innovation and growth in multiple markets positions it as a key player in the technology industry.
In conclusion, Intel’s recent financial performance, dividend announcement, and insider activity reflect the company’s ongoing efforts to enhance shareholder value and drive growth. Despite fluctuations in stock price and mixed analyst opinions, Intel remains a prominent player in the technology sector with a diverse product portfolio and strong market presence. Investors should continue to monitor Intel’s performance and strategic moves to make informed decisions regarding their investments in the company.
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https://www.defenseworld.net/2024/07/03/exchange-capital-management-inc-sells-1049-shares-of-intel-co-nasdaqintc.html
