Tranquility Partners LLC Sells 9,106 Shares of Intel Co. (NASDAQ:INTC)

Tranquility Partners LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 58.9% during the fourth quarter, HoldingsChannel reports. The firm owned 6,359 shares of the chip maker’s stock after selling 9,106 shares during the quarter. Tranquility Partners LLC’s holdings in Intel were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. Barrett & Company Inc. boosted its stake in Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after buying an additional 210 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after purchasing an additional 216 shares during the last quarter. New Millennium Group LLC raised its position 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 purchasing an additional 231 shares during the last quarter. Waldron Private Wealth LLC raised its position in Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. raised its position in shares of Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday, February 23rd. Wedbush reiterated a “neutral” rating and issued a $40.00 target price on shares of Intel in a report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. TD Cowen reduced their price objective on Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $42.62.

Intel Price Performance

NASDAQ INTC traded down $0.52 during trading on Thursday, reaching $35.16. The company’s stock had a trading volume of 4,619,661 shares, compared to its average volume of 46,329,410. The firm has a fifty day moving average of $42.18 and a 200 day moving average of $42.35. The stock has a market capitalization of $148.66 billion, a PE ratio of 91.49, a P/E/G ratio of 3.21 and a beta of 1.00. Intel Co. has a one year low of $26.85 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. Analysts expect that Intel Co. will post 0.62 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.42%. Intel’s dividend payout ratio is presently 128.21%.

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.