New York State Teachers Retirement System Sells 173,732 Shares of Intel Co. (NASDAQ:INTC)

New York State Teachers Retirement System trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,724,443 shares of the chip maker’s stock after selling 173,732 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Intel worth $87,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC bought a new position in shares of Intel in the second quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the second quarter worth about $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in shares of Intel during the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $33,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Down 0.5 %

Shares of NASDAQ:INTC traded down $0.12 during trading on Wednesday, reaching $22.78. The stock had a trading volume of 7,037,521 shares, compared to its average volume of 58,382,570. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $21.69 and its 200 day simple moving average is $27.19. The company has a market capitalization of $96.97 billion, a P/E ratio of 23.85 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. As a group, research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.19%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research reports. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $30.80.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.