LVW Advisors LLC reduced its position in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,095 shares of the chip maker’s stock after selling 647 shares during the period. LVW Advisors LLC’s holdings in Intel were worth $240,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its position in shares of Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after acquiring an additional 342,649 shares during the last quarter. Axiom Financial Strategies LLC increased its position in shares of Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after acquiring an additional 1,056 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Intel during the first quarter valued at about $142,000. Retirement Income Solutions Inc increased its position in shares of Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after acquiring an additional 307 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after acquiring an additional 1,244,247 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on INTC shares. Wells Fargo & Company lowered their price objective on shares of Intel from $32.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, January 27th. Susquehanna raised shares of Intel from a “negative” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $26.00 in a research note on Thursday, March 16th. Wedbush reissued an “underperform” rating and issued a $20.00 price objective (down previously from $23.00) on shares of Intel in a research note on Monday, January 23rd. Morgan Stanley raised shares of Intel from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $29.50 to $28.00 in a research note on Thursday, February 23rd. Finally, StockNews.com initiated coverage on shares of Intel in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Eight analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.48.
Intel Stock Performance
Intel (NASDAQ:INTC – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a net margin of 12.71% and a return on equity of 7.45%. The firm had revenue of $14.04 billion during the quarter, compared to analyst estimates of $14.49 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was down 31.6% compared to the same quarter last year. On average, sell-side analysts predict that Intel Co. will post 0.55 earnings per share for the current year.
Intel Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be given a $0.125 dividend. The ex-dividend date is Thursday, May 4th. This represents a $0.50 annualized dividend and a dividend yield of 1.70%. Intel’s dividend payout ratio is presently 74.49%.
Insider Buying and Selling
In other Intel news, CEO Patrick P. Gelsinger acquired 9,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were acquired at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the transaction, the chief executive officer now directly owns 18,700 shares of the company’s stock, valued at $480,216. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Patrick P. Gelsinger bought 9,700 shares of Intel stock in a transaction on Thursday, February 23rd. The shares were bought at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the acquisition, the chief executive officer now owns 18,700 shares in the company, valued at $480,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Zinsner bought 1,800 shares of Intel stock in a transaction on Monday, January 30th. The stock was purchased at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the acquisition, 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 have acquired 20,500 shares of company stock worth $549,768 in the last three months. Corporate insiders own 0.02% of the company’s stock.
About Intel
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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