Westbourne Investment Advisors Inc. Cuts Holdings in Intel Co. (NASDAQ:INTC)

Westbourne Investment Advisors Inc. lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,489 shares of the chip maker’s stock after selling 310 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in Intel were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its stake in shares of Intel by 100,953.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after purchasing an additional 51,083,262 shares during the last quarter. Norges Bank purchased a new position in Intel in the fourth quarter valued at $1,092,939,000. Clearbridge Investments LLC boosted its position in Intel by 4,407.3% during the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares in the last quarter. Barclays PLC raised its position in Intel by 171.1% during the second quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock worth $715,773,000 after acquiring an additional 13,507,774 shares during the period. Finally, Morgan Stanley lifted its position in shares of Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after acquiring an additional 12,241,200 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on INTC shares. Barclays lifted their target price on shares of Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Truist Financial dropped their price target on Intel from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, January 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 26th. Stifel Nicolaus lifted their price target on shares of Intel from $38.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Finally, The Goldman Sachs Group raised their price objective on Intel from $34.00 to $39.00 and gave the company a “sell” rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.48.

Insider Activity

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

Intel Stock Up 1.3 %

INTC traded up $0.56 during trading on Thursday, hitting $44.33. The company had a trading volume of 22,262,856 shares, compared to its average volume of 44,827,191. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The business has a 50-day moving average of $43.98 and a 200-day moving average of $42.01. 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 $187.43 billion, a PE ratio of 113.87, a P/E/G ratio of 4.38 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $0.10 EPS. Intel’s revenue was up 9.7% on a year-over-year basis. As a group, analysts forecast that Intel Co. will post 0.64 earnings per share for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is currently 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.