LCM Capital Management Inc Reduces Stock Position in Intel Co. (NASDAQ:INTC)

LCM Capital Management Inc trimmed its position in Intel Co. (NASDAQ:INTC) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,831 shares of the chip maker’s stock after selling 381 shares during the quarter. LCM Capital Management Inc’s holdings in Intel were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Intel by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock valued at $13,548,451,000 after buying an additional 1,624,453 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Intel by 6.0% in the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after acquiring an additional 4,226,790 shares during the period. Northern Trust Corp boosted its position in Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after purchasing an additional 1,626,127 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after purchasing an additional 6,064,950 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Intel by 13.4% during the 3rd quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock worth $1,272,266,000 after purchasing an additional 4,222,381 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on INTC. Barclays dropped their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday. Roth Mkm cut their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. TD Cowen decreased their target price on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday. Truist Financial dropped their price target on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday. Finally, Sanford C. Bernstein decreased their price objective on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $39.75.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company insiders.

Intel Trading Down 2.8 %

NASDAQ:INTC traded down $0.89 during trading hours on Tuesday, reaching $30.47. 72,176,616 shares of the stock were exchanged, compared to its average volume of 48,540,945. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The business has a 50-day moving average of $40.35 and a two-hundred day moving average of $42.23. The company has a market capitalization of $128.83 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.89 and a beta of 1.00. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Intel Company 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.