Douglas Lane & Associates LLC Decreases Stock Position in Intel Co. (NASDAQ:INTC)

Douglas Lane & Associates LLC cut its position in Intel Co. (NASDAQ:INTC) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,709 shares of the chip maker’s stock after selling 3,414 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Intel were worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC raised its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Intel in the fourth quarter valued at $27,000. Burkett Financial Services LLC acquired a new stake in Intel in the fourth quarter valued at $27,000. Raleigh Capital Management Inc. raised its holdings in Intel by 62.8% in the third 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. Finally, Valued Wealth Advisors LLC acquired a new stake in Intel in the fourth quarter valued at $36,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

NASDAQ:INTC opened at $31.09 on Monday. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $31.57 and a 200-day moving average of $39.91. The firm has a market cap of $132.35 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 14.60 and a beta of 1.06.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The business had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Analysts forecast that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is 52.08%.

Analysts Set New Price Targets

Several research firms recently issued reports on INTC. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. HSBC dropped their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group dropped their target price on shares of Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Truist Financial dropped their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, Mizuho dropped their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.58.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction dated Monday, April 29th. The stock was bought at an average cost 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 of the company’s stock, valued at $1,108,340.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

About Intel

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.