Intel Co. (NASDAQ:INTC) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 0.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 175,711 shares of the chip maker’s stock after selling 405 shares during the quarter. Palisade Asset Management LLC’s holdings in Intel were worth $8,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. New Millennium Group LLC grew its stake in Intel by 87.2% during the 4th 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 purchased a new stake in shares of Intel in the fourth quarter valued at approximately $36,000. Signature Resources Capital Management LLC purchased a new position in Intel during the fourth quarter worth approximately $37,000. Bare Financial Services Inc acquired a new position in Intel during the fourth quarter worth $39,000. Finally, Raleigh Capital Management Inc. grew its holdings in Intel by 62.8% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 2.1 %

INTC stock traded down $0.65 during trading on Wednesday, hitting $30.03. 45,068,363 shares of the company’s stock were exchanged, compared to its average volume of 48,332,656. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The business has a 50-day moving average price of $39.12 and a two-hundred day moving average price of $42.05. The stock has a market capitalization of $127.84 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 10.05 and a beta of 1.09.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent research reports. Sanford C. Bernstein lowered their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, April 26th. Finally, Evercore ISI cut their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $39.75.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the purchase, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company 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.