Intel Co. (NASDAQ:INTC) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 434,795 shares of the chip maker’s stock after selling 14,543 shares during the period. Welch & Forbes LLC’s holdings in Intel were worth $21,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Millennium Group LLC raised its holdings 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 worth $25,000 after purchasing an additional 231 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Intel by 62.8% during the third 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 acquired a new stake in shares of Intel in the 4th quarter worth about $36,000. Signature Resources Capital Management LLC acquired a new stake in shares of Intel in the 4th quarter worth about $37,000. Finally, Bare Financial Services Inc acquired a new stake in shares of Intel in the 4th quarter worth about $39,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Intel Stock Up 0.2 %

Shares of INTC traded up $0.07 during midday trading on Monday, reaching $30.97. 36,153,059 shares of the stock were exchanged, compared to its average volume of 48,448,844. The company has a market cap of $131.84 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 10.05 and a beta of 1.09. 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 Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The firm has a 50 day simple moving average of $39.36 and a 200-day simple moving average of $42.08.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 yield of 1.61%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analysts Set New Price Targets

A number of analysts recently weighed in on INTC shares. UBS Group increased their price objective on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Bank of America dropped their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Barclays lowered their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Finally, HSBC lowered their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Four research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.75.

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.