SlateStone Wealth LLC Buys 6,205 Shares of Intel Co. (NASDAQ:INTC)

SlateStone Wealth LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 11.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 59,152 shares of the chip maker’s stock after purchasing an additional 6,205 shares during the period. SlateStone Wealth LLC’s holdings in Intel were worth $2,972,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. New Millennium Group LLC grew its holdings in shares of 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. Valued Wealth Advisors LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $36,000. Legacy Financial Group LLC bought a new position in shares of Intel in the third quarter valued at approximately $30,000. Raleigh Capital Management Inc. grew its holdings 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 valued at $33,000 after acquiring an additional 362 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the fourth quarter valued at approximately $52,000. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INTC. HSBC dropped their price objective on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday. Barclays upped their price objective on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Morgan Stanley upped their price objective on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Citigroup dropped their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Finally, Mizuho dropped their target price on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.38.

Insider Activity at Intel

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

Intel Stock Up 1.6 %

Shares of INTC stock traded up $0.55 during trading hours on Wednesday, hitting $34.83. 3,844,663 shares of the company’s stock traded hands, compared to its average volume of 46,361,109. The stock’s fifty day simple moving average is $41.48 and its two-hundred day simple moving average is $42.36. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The stock has a market cap of $147.26 billion, a price-to-earnings ratio of 87.90, a PEG ratio of 3.09 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same period last year, the business earned $0.10 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, analysts expect that Intel Co. will post 0.61 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is currently 128.21%.

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.