Northcape Wealth Management LLC Sells 778 Shares of Intel Co. (NASDAQ:INTC)

Northcape Wealth Management LLC decreased its position in Intel Co. (NASDAQ:INTC) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,209 shares of the chip maker’s stock after selling 778 shares during the period. Northcape Wealth Management LLC’s holdings in Intel were worth $1,669,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in INTC. New Millennium Group LLC increased its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Legacy Financial Group LLC bought a new position in Intel in the 3rd quarter worth $30,000. Raleigh Capital Management Inc. lifted its position in shares of Intel by 62.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after purchasing an additional 362 shares during the period. Valued Wealth Advisors LLC purchased a new position in Intel during the fourth quarter valued at $36,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Intel during the third quarter valued at approximately $40,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

NASDAQ INTC traded down $0.89 on Tuesday, hitting $30.47. The company had a trading volume of 72,176,616 shares, compared to its average volume of 48,540,945. The company’s fifty day moving average price is $40.63 and its 200-day moving average price is $42.27. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a market capitalization of $128.83 billion, a PE ratio of 32.34, a PEG ratio of 2.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on INTC shares. Susquehanna lowered their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Bank of America lowered their price target on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday. Raymond James reduced their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday. Four equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.75.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Intel 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.