Private Trust Co. NA trimmed its stake in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,100 shares of the chip maker's stock after selling 1,321 shares during the period. Private Trust Co. NA's holdings in Intel were worth $1,562,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Butensky & Cohen Financial Security Inc. lifted its stake in Intel by 12.4% in the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 97,399 shares of the chip maker's stock worth $2,510,000 after acquiring an additional 10,758 shares in the last quarter. Martin & Co. Inc. TN lifted its stake in Intel by 1.7% in the 3rd quarter. Martin & Co. Inc. TN now owns 24,335 shares of the chip maker's stock worth $627,000 after acquiring an additional 402 shares in the last quarter. AdvisorNet Financial Inc increased its position in Intel by 6.3% in the 3rd quarter. AdvisorNet Financial Inc now owns 40,942 shares of the chip maker's stock worth $1,055,000 after purchasing an additional 2,422 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Intel in the 3rd quarter worth about $896,000. Finally, HBW Advisory Services LLC increased its position in Intel by 15.8% in the 3rd quarter. HBW Advisory Services LLC now owns 35,864 shares of the chip maker's stock worth $924,000 after purchasing an additional 4,899 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.
Get Intel alerts:Intel Price Performance
Shares of INTC stock opened at $28.91 on Friday. The stock has a 50 day moving average of $28.01 and a two-hundred day moving average of $28.06. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. Intel Co. has a 12 month low of $24.59 and a 12 month high of $52.51. The company has a market capitalization of $119.60 billion, a P/E ratio of 14.81, a P/E/G ratio of 9.09 and a beta of 0.81.
Intel (NASDAQ:INTC – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Intel had a return on equity of 7.45% and a net margin of 12.71%. The firm had revenue of $14.04 billion during the quarter, compared to the consensus estimate of $14.49 billion. During the same quarter in the prior year, the business posted $1.09 EPS. Intel's revenue was down 31.6% compared to the same quarter last year. As a group, equities analysts expect that Intel Co. will post 0.55 EPS for the current year.
Intel Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a dividend yield of 1.73%. Intel's dividend payout ratio (DPR) is presently 74.49%.
Insider Buying and Selling
In related news, CFO David Zinsner bought 1,800 shares of the business's stock in a transaction that occurred on Monday, January 30th. The stock was acquired at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the transaction, the chief financial officer now directly owns 17,450 shares of the company's stock, valued at $486,680.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 9,000 shares of the business's stock in a transaction on Tuesday, January 31st. The stock was purchased at an average price of $27.83 per share, for a total transaction of $250,470.00. Following the transaction, the chief executive officer now owns 9,000 shares in the company, valued at approximately $250,470. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Zinsner acquired 1,800 shares of the business's stock in a transaction on Monday, January 30th. The stock was acquired at an average price of $27.89 per share, with a total value of $50,202.00. Following the transaction, the chief financial officer now owns 17,450 shares in the company, valued at approximately $486,680.50. The disclosure for this purchase can be found here. Insiders purchased 20,500 shares of company stock worth $549,768 in the last 90 days. 0.02% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several brokerages have weighed in on INTC. The Goldman Sachs Group set a $24.00 target price on Intel in a research report on Friday, January 27th. JPMorgan Chase & Co. set a $28.00 target price on Intel in a research report on Wednesday, February 22nd. Morgan Stanley raised Intel from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $29.50 to $28.00 in a research report on Thursday, February 23rd. Credit Suisse Group set a $25.00 target price on Intel in a research report on Thursday, February 23rd. Finally, StockNews.com began coverage on Intel in a research report on Thursday, March 16th. They issued a "hold" rating on the stock. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Intel has a consensus rating of "Hold" and an average price target of $29.48.
Intel Profile
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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.
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