BOK Financial Private Wealth Inc. Cuts Stock Position in Intel Co. (NASDAQ:INTC)

by · The Cerbat Gem

BOK Financial Private Wealth Inc. lessened its holdings in Intel Co. (NASDAQ:INTC – Free Report) by 56.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,035 shares of the chip maker’s stock after selling 1,353 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Intel were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp grew its holdings in Intel by 1.2% during the 2nd quarter. State Street Corp now owns 181,557,033 shares of the chip maker’s stock valued at $6,071,267,000 after purchasing an additional 2,237,616 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Intel by 98,521.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 178,121,843 shares of the chip maker’s stock valued at $5,956,394,000 after purchasing an additional 177,941,231 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intel by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 84,895,947 shares of the chip maker’s stock valued at $2,831,569,000 after purchasing an additional 2,166,976 shares in the last quarter. Capital Research Global Investors grew its holdings in Intel by 38.6% during the 2nd quarter. Capital Research Global Investors now owns 74,806,869 shares of the chip maker’s stock valued at $2,501,537,000 after purchasing an additional 20,836,219 shares in the last quarter. Finally, Capital International Investors grew its holdings in Intel by 2.3% during the 2nd quarter. Capital International Investors now owns 71,950,264 shares of the chip maker’s stock valued at $2,405,895,000 after purchasing an additional 1,636,139 shares in the last quarter. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 6,775 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was purchased at an average cost of $36.80 per share, with a total value of $249,320.00. Following the purchase, the chief executive officer now owns 25,475 shares in the company, valued at approximately $937,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTC. Susquehanna raised their price target on shares of Intel from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Mizuho raised shares of Intel from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $50.00 in a report on Thursday, November 16th. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $32.00 to $50.00 in a report on Friday, December 15th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Intel in a report on Friday, October 27th. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $27.00 to $33.00 in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.97.

Check Out Our Latest Report on Intel

Intel Stock Performance

Shares of INTC stock opened at $47.08 on Friday. Intel Co. has a 12-month low of $24.73 and a 12-month high of $47.27. The firm has a market capitalization of $198.49 billion, a price-to-earnings ratio of -117.70, a price-to-earnings-growth ratio of 25.06 and a beta of 0.95. The business has a 50 day simple moving average of $40.35 and a 200 day simple moving average of $36.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.53 and a quick ratio of 1.13.

Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.57 billion. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. On average, equities research analysts anticipate that Intel Co. will post 0.26 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Monday, November 6th. Intel’s payout ratio is currently -125.00%.

About Intel

(Free Report)

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.

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