Sonora Investment Management LLC Cuts Stake in Intel Co. (NASDAQ:INTC)


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Sonora Investment Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,745 shares of the chip maker’s stock after selling 3,915 shares during the period. Sonora Investment Management LLC’s holdings in Intel were worth $5,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in INTC. Norges Bank purchased a new stake in Intel in the fourth quarter worth approximately $2,141,057,000. Baupost Group LLC MA bought a new position in Intel in the fourth quarter worth $906,005,000. Primecap Management Co. CA increased its holdings in shares of Intel by 28.1% during the fourth quarter. Primecap Management Co. CA now owns 32,574,166 shares of the chip maker’s stock valued at $1,622,845,000 after acquiring an additional 7,151,405 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Intel by 100,766.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,195,650 shares of the chip maker’s stock valued at $258,847,000 after acquiring an additional 5,190,499 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Intel by 161.7% during the fourth quarter. Toronto Dominion Bank now owns 7,957,652 shares of the chip maker’s stock valued at $483,288,000 after acquiring an additional 4,916,921 shares in the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.

INTC has been the topic of several research reports. Atlantic Securities raised Intel from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $36.00 to $55.00 in a research report on Thursday, January 14th. UBS Group reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Intel in a research note on Friday, April 23rd. Loop Capital lifted their target price on Intel from $50.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, March 30th. Truist Securities lifted their price objective on Intel from $64.00 to $73.00 in a research note on Wednesday, March 24th. Finally, Morgan Stanley lifted their price objective on Intel from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, January 22nd. Twelve investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.59.

Shares of Intel stock traded down $0.79 during midday trading on Tuesday, reaching $56.47. 195,005 shares of the company’s stock traded hands, compared to its average volume of 35,212,270. The company has a market cap of $228.03 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.74. The company’s 50 day simple moving average is $63.41 and its 200 day simple moving average is $55.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.24 and a current ratio of 1.66. Intel Co. has a 52 week low of $43.61 and a 52 week high of $68.49.

Intel (NASDAQ:INTC) last announced its earnings results on Wednesday, April 21st. The chip maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.15 by $0.24. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $17.97 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 EPS. As a group, equities research analysts predict that Intel Co. will post 4.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 7th will be given a dividend of $0.3475 per share. The ex-dividend date is Thursday, May 6th. This represents a $1.39 annualized dividend and a dividend yield of 2.46%. Intel’s dividend payout ratio (DPR) is currently 28.54%.

Intel Company Profile

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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