Glassman Wealth Services Increases Stake in Intel Co. (NASDAQ:INTC)

Glassman Wealth Services lifted its stake in Intel Co. (NASDAQ:INTC) by 7.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,464 shares of the chip maker’s stock after purchasing an additional 1,795 shares during the quarter. Glassman Wealth Services’ holdings in Intel were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC raised its position in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in Intel in the 4th quarter worth approximately $27,000. Valued Wealth Advisors LLC acquired a new position in Intel in the 4th quarter worth approximately $36,000. Signature Resources Capital Management LLC acquired a new position in Intel in the 4th quarter worth approximately $37,000. Finally, Bare Financial Services Inc acquired a new stake in shares of Intel during the 4th quarter worth approximately $39,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of analyst reports. 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Intel in a research note on Wednesday, April 3rd. TD Cowen dropped their price target 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. JPMorgan Chase & Co. dropped their price target 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. Finally, Roth Mkm dropped their price target 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. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.58.

Intel Trading Up 2.1 %

INTC traded up $0.64 on Friday, hitting $30.72. The company had a trading volume of 42,434,488 shares, compared to its average volume of 51,530,472. The firm has a market cap of $130.78 billion, a P/E ratio of 32.00, a PEG ratio of 14.46 and a beta of 1.09. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The company’s fifty day moving average price is $35.75 and its 200 day moving average price is $41.55. 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 (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. As a group, equities analysts expect that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is currently 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.