Intel Co. (NASDAQ:INTC) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. reduced its holdings in Intel Co. (NASDAQ:INTC) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,290 shares of the chip maker’s stock after selling 2,536 shares during the quarter. Intel makes up 0.0% of Elite Wealth Management Inc.’s portfolio, making the stock its 28th biggest holding. Elite Wealth Management Inc.’s holdings in Intel were worth $618,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Barrett & Company Inc. raised its stake in shares of 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 acquiring an additional 210 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Intel by 3.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $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 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $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 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after purchasing an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. raised its position in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after purchasing an additional 246 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of analyst reports. Mizuho cut their price target on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. TD Cowen cut their price target on Intel from $45.00 to $42.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Finally, Wells Fargo & Company cut their price target on Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $42.69.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.73 during midday trading on Wednesday, reaching $35.53. The company’s stock had a trading volume of 13,036,100 shares, compared to its average volume of 46,518,539. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The business’s 50 day moving average price is $42.32 and its two-hundred day moving average price is $42.40. The company has a market cap of $150.22 billion, a P/E ratio of 92.03, a P/E/G ratio of 3.21 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating 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 net margin of 3.11% and a return on equity of 1.64%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, analysts forecast that Intel Co. will post 0.62 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.41%. Intel’s dividend payout ratio (DPR) is 128.21%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

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.