Old North State Trust LLC trimmed its position in Intel Co. (NASDAQ:INTC – Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,488 shares of the chip maker’s stock after selling 1,209 shares during the period. Old North State Trust LLC’s holdings in Intel were worth $800,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Lumature Wealth Partners LLC grew its position in Intel by 146.7% during the first quarter. Lumature Wealth Partners LLC now owns 824 shares of the chip maker’s stock worth $41,000 after buying an additional 490 shares in the last quarter. Quilter Plc bought a new stake in shares of Intel during the 1st quarter valued at about $869,868,000. Mach 1 Financial Group LLC purchased a new position in shares of Intel during the first quarter worth about $14,880,000. Aspire Private Capital LLC bought a new position in shares of Intel in the first quarter worth approximately $31,446,116,000. Finally, Venturi Wealth Management LLC purchased a new stake in Intel in the first quarter valued at approximately $32,000. 60.84% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
INTC has been the subject of a number of research reports. Morgan Stanley cut their price target on shares of Intel from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Wedbush increased their target price on Intel from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Jefferies Financial Group lifted their price target on Intel from $32.00 to $35.00 in a research note on Thursday, June 22nd. Truist Financial increased their price objective on Intel from $32.00 to $37.00 and gave the company a “hold” rating in a research report on Friday, July 28th. Finally, Barclays boosted their target price on Intel from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Six equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $33.55.
Insider Buying and Selling at Intel
In other Intel news, CEO Patrick P. Gelsinger purchased 3,850 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the purchase, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 3,850 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the acquisition, the chief executive officer now owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 3,250 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $35.87 per share, for a total transaction of $116,577.50. Following the purchase, the chief executive officer now directly owns 139,715 shares in the company, valued at $5,011,577.05. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.
Intel Trading Down 2.0 %
NASDAQ:INTC opened at $37.88 on Friday. The company has a 50-day moving average price of $34.88 and a 200-day moving average price of $32.09. The stock has a market cap of $158.64 billion, a price-to-earnings ratio of -172.17 and a beta of 0.89. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $24.59 and a 12 month high of $40.07.
Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. The business had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.03 billion. Equities analysts predict that Intel Co. will post -0.11 EPS for the current year.
Intel Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.50 annualized dividend and a yield of 1.32%. Intel’s payout ratio is -227.26%.
About Intel
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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