Clifford Swan Investment Counsel LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Clifford Swan Investment Counsel LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 8.5% during the 4th quarter, HoldingsChannel reports. The firm owned 718,168 shares of the chip maker’s stock after selling 67,126 shares during the period. Intel comprises about 1.4% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 13th largest holding. Clifford Swan Investment Counsel LLC’s holdings in Intel were worth $36,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of INTC. New Millennium Group LLC increased its holdings in 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. Raleigh Capital Management Inc. boosted its position in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after acquiring an additional 362 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Intel in the 4th quarter valued at $36,000. Signature Resources Capital Management LLC bought a new position in shares of Intel in the 4th quarter worth $37,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Intel during the 4th quarter worth $39,000. 64.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INTC has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Barclays decreased their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Raymond James reduced their price target on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. TD Cowen lowered their price objective on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.75.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Intel Price Performance

Intel stock traded up $0.39 during midday trading on Friday, reaching $30.90. The company had a trading volume of 36,794,828 shares, compared to its average volume of 58,447,700. 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 Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a market capitalization of $131.54 billion, a P/E ratio of 32.19, a P/E/G ratio of 10.05 and a beta of 1.09. The firm’s fifty day simple moving average is $39.60 and its 200-day simple moving average is $42.11.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

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.