Intel Co. (NASDAQ:INTC) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 11.5% during the fourth quarter, HoldingsChannel reports. The fund owned 6,617 shares of the chip maker’s stock after selling 861 shares during the period. Garrison Asset Management LLC’s holdings in Intel were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTC. New Millennium Group LLC lifted its position in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Intel during the fourth quarter worth about $36,000. Legacy Financial Group LLC purchased a new position in Intel during the third quarter worth about $30,000. Raleigh Capital Management Inc. increased its stake in Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Intel during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Cowen lowered their target price on Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Wedbush restated a “neutral” rating and set a $40.00 price objective on shares of Intel in a research note on Wednesday, April 17th. Finally, Citigroup lowered their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.62.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of Intel stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Performance

Intel stock traded up $0.21 during mid-day trading on Monday, hitting $34.41. 37,240,721 shares of the company’s stock traded hands, compared to its average volume of 46,792,043. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The company has a market cap of $145.49 billion, a PE ratio of 88.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00. The firm has a 50 day moving average price of $41.85 and a 200 day moving average price of $42.38. Intel Co. has a one year low of $26.85 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. Intel’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities analysts forecast that Intel Co. will post 0.61 EPS for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. Intel’s payout ratio is presently 128.21%.

Intel Profile

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.