Intel Co. (NASDAQ:INTC) Shares Acquired by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC increased its stake in Intel Co. (NASDAQ:INTC) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,329 shares of the chip maker’s stock after acquiring an additional 413 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Intel were worth $569,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of INTC. 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 buying an additional 231 shares during the period. Valued Wealth Advisors LLC purchased a new position in Intel in the fourth quarter valued at approximately $36,000. Legacy Financial Group LLC purchased a new position in Intel in the third quarter valued at approximately $30,000. 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 buying an additional 362 shares during the period. Finally, Financial Connections Group Inc. purchased a new position in Intel in the fourth quarter valued at approximately $52,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INTC shares. TD Cowen dropped their price objective on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday, April 26th. Wedbush dropped their price objective on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Roth Mkm dropped their price objective on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.75.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC opened at $30.37 on Thursday. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The company has a market cap of $129.29 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 8.39 and a beta of 1.09. 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 firm has a fifty day moving average of $40.09 and a 200-day moving average of $42.14.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

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.