Sovereign Financial Group Inc. decreased its ownership of Intel Co., selling 4.3% of its shares during the first quarter. The fund now holds 9,102 shares of the chipmaker valued at $402,000. Other institutional investors, such as Vanguard Group Inc., Capital International Investors, and Norges Bank, have also made changes to their Intel holdings. CEO Patrick Gelsinger recently purchased shares of the company’s stock, with transactions totaling over $120,000. Wall Street analysts have varying opinions on Intel, with some issuing “hold” ratings and others lowering price targets. The company’s stock rose by 0.2% on a recent trading day.
Intel reported quarterly earnings data that fell short of analysts’ expectations, with a net margin of 7.36% and a return on equity of 2.19%. The company also announced a quarterly dividend, paid out in early June. Intel Corporation, known for its computer and related products and services, operates through different segments including Client Computing, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. For more information on Intel, investors can visit HoldingsChannel.com for the latest 13F filings and insider trading updates.
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https://www.defenseworld.net/2024/06/28/sovereign-financial-group-inc-sells-406-shares-of-intel-co-nasdaqintc.html