Steele Capital Management Inc. Buys New Shares in Intel Co. (NASDAQ:INTC)

Steele Capital Management Inc. purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the 4th quarter, Holdings Channel reports. The fund purchased 8,309 shares of the chip maker’s stock, valued at approximately $418,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. Barrett & Company Inc. raised its position in Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after buying an additional 216 shares during the period. New Millennium Group LLC lifted its stake in shares of Intel by 87.2% in the 4th 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 during the last quarter. Waldron Private Wealth LLC grew its position in Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after acquiring an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. increased its stake in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after purchasing an additional 246 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INTC. Raymond James lowered their target price on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. The Goldman Sachs Group lowered their price objective on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday. UBS Group upped their target price on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. TD Cowen lowered their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research report on Friday. Finally, Morgan Stanley cut their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.75.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, 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 accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Price Performance

INTC traded down $0.39 during trading on Tuesday, hitting $30.97. 20,125,564 shares of the company traded hands, compared to its average volume of 47,926,219. The company has a market cap of $130.94 billion, a PE ratio of 32.34, a P/E/G 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 company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $40.63 and its two-hundred day simple moving average is $42.27.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is 52.08%.

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.