Griffin Asset Management Inc. Sells 418 Shares of Intel Co. (NASDAQ:INTC)

Griffin Asset Management Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 3.4% in the 1st quarter, HoldingsChannel reports. The firm owned 12,025 shares of the chip maker’s stock after selling 418 shares during the quarter. Griffin Asset Management Inc.’s holdings in Intel were worth $531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC lifted its position in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the 4th quarter valued at $27,000. Burkett Financial Services LLC bought a new position in shares of Intel during the 4th quarter valued at $27,000. Raleigh Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 362 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Intel in the 4th quarter worth $36,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI reduced their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 26th. Morgan Stanley dropped their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Truist Financial decreased their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, HSBC dropped their price target on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Three research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.58.

Intel Price Performance

Shares of NASDAQ:INTC opened at $30.97 on Friday. The firm’s 50 day moving average price is $31.08 and its 200-day moving average price is $39.50. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $131.84 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 14.76 and a beta of 1.06. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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). The business had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. Equities research analysts expect that Intel Co. will post 0.09 EPS for the current year.

Intel Dividend Announcement

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

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction that occurred 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 purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. 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.