Capital Investment Counsel Inc Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Capital Investment Counsel Inc lessened its holdings in Intel Co. (NASDAQ:INTC) by 1.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,896 shares of the chip maker’s stock after selling 2,312 shares during the quarter. Intel makes up 1.1% of Capital Investment Counsel Inc’s holdings, making the stock its 16th largest holding. Capital Investment Counsel Inc’s holdings in Intel were worth $6,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. California Public Employees Retirement System increased its holdings in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Intel by 18.6% during the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after buying an additional 6,064,950 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after acquiring an additional 5,217,549 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in Intel in the fourth quarter worth about $251,250,000. Finally, Parnassus Investments LLC grew its holdings in Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after acquiring an additional 4,631,905 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INTC shares. Wedbush reduced their price target on shares of Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a report on Friday. Raymond James reduced their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. HSBC cut their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Finally, Susquehanna decreased their price target on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

NASDAQ:INTC traded down $0.66 during trading hours on Monday, reaching $31.22. The company had a trading volume of 11,862,845 shares, compared to its average volume of 47,654,668. The firm has a market cap of $132.00 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The business’s 50 day moving average price is $40.88 and its 200-day moving average price is $42.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts forecast that Intel Co. will post 0.6 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by corporate insiders.

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.