Horizon Wealth Management LLC Has $402,000 Holdings in Intel Co. (NASDAQ:INTC)

Horizon Wealth Management LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 10.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,108 shares of the chip maker’s stock after selling 1,111 shares during the period. Horizon Wealth Management LLC’s holdings in Intel were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. Vanguard Group Inc. lifted its stake in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after buying an additional 4,678,169 shares in the last quarter. Capital International Investors lifted its stake in Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after purchasing an additional 318,495 shares in the last quarter. Primecap Management Co. CA lifted its stake in Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares in the last quarter. Norges Bank purchased a new stake in Intel in the 4th quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 0.8 %

INTC stock traded down $0.24 during trading on Monday, hitting $30.73. The company had a trading volume of 15,400,622 shares, compared to its average volume of 46,591,883. The firm has a market capitalization of $130.82 billion, a P/E ratio of 32.01, a PEG ratio of 14.76 and a beta of 1.05. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The company has a 50 day simple moving average of $31.08 and a 200-day simple moving average of $39.46. The company has a quick ratio of 1.14, a current ratio of 1.57 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 analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. As a group, research analysts forecast that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following 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 SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction on 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 completion of the purchase, the chief executive officer now owns 39,375 shares in the company, 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.

Analysts Set New Price Targets

INTC has been the topic of several research reports. Citigroup lowered their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, April 26th. Stifel Nicolaus restated a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday, April 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $39.58.

Intel Company 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.