Farmers & Merchants Investments Inc. decreased its holdings in Intel Co. shares (NASDAQ: INTC) by 2.8% in the first quarter, according to a recent filing with the Securities and Exchange Commission. The company sold 2,387 shares and now owns 83,349 shares of the chipmaker, valued at $3,682,000. Other major investors have also been buying and selling INTC stock, with some increasing their positions and others acquiring new positions.
CEO Patrick P. Gelsinger of Intel has been actively involved in purchasing Intel stock in several transactions. On Wednesday, May 1st, he acquired 4,100 shares at an average cost of $30.29 per share, totaling $124,189.00. In another transaction on Monday, April 29th, Gelsinger purchased 4,000 shares at an average cost of $31.42 per share, amounting to $125,680.00. In total, Gelsinger now owns 39,375 shares of Intel stock.
In terms of Intel’s stock performance, the company opened at $31.07 on Wednesday, with a 52-week low of $29.73 and a high of $51.28. Intel reported earnings per share of ($0.06) for the quarter ending on April 25th, missing analysts’ estimates. The company had a net margin of 7.36% and a return on equity of 2.19%. Revenue for the quarter was $12.72 billion, slightly below analysts’ expectations. Analysts predict that Intel Co. will post earnings per share of $0.09 for the current year.
Intel also recently announced a quarterly dividend, paid on June 1st, with investors receiving $0.125 per share. The ex-dividend date was on May 6th, and the dividend represents an annualized yield of 1.61%. Intel’s payout ratio is 52.08%.
Various stock analysts have commented on INTC stock, with price targets being adjusted. Citigroup, Barclays, and Goldman Sachs have all revised their price targets for Intel stock. The overall average rating for Intel is “hold,” with an average price target of $39.58.
Intel Corporation operates globally in the development and sale of computing and related products and services. The company’s segments include Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Their product portfolio consists of CPUs, chipsets, GPUs, FPGAs, and other semiconductor products.
Overall, Intel’s stock performance and investor activity, along with announcements of dividends and price targets by analysts, indicate a mix of sentiment towards the company. The involvement of CEO Gelsinger in purchasing shares also reflects confidence in Intel’s future prospects. With ongoing developments in the tech industry, Intel continues to be a key player in the market.
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https://www.defenseworld.net/2024/07/03/intel-co-nasdaqintc-shares-sold-by-farmers-merchants-investments-inc.html
