Cornerstone Wealth Management LLC Trims Holdings in Intel Co. (NASDAQ:INTC)

Cornerstone Wealth Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 5.3% in the first quarter, HoldingsChannel reports. The firm owned 38,544 shares of the chip maker’s stock after selling 2,140 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Intel were worth $1,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of INTC. New Millennium Group LLC raised its position in 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 acquiring an additional 231 shares during the period. Frazier Financial Advisors LLC purchased a new position in Intel in the 4th quarter valued at $27,000. Burkett Financial Services LLC purchased a new stake in shares of Intel during the fourth quarter worth $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel during the first quarter worth $27,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after buying an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts recently commented on INTC shares. Wedbush cut their price target on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a report on Friday, April 26th. Evercore ISI cut their target price on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company dropped their price objective 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. Truist Financial reduced 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, JPMorgan Chase & Co. dropped their price target on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.58.

Intel Price Performance

INTC stock opened at $31.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The stock’s 50 day moving average price is $30.88 and its 200 day moving average price is $39.20. The firm has a market cap of $132.95 billion, a P/E ratio of 32.53, a PEG ratio of 14.89 and a beta of 1.05. Intel Co. has a 1 year low of $29.73 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) 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 company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. On average, sell-side analysts expect that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is 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.