Wedmont Private Capital Sells 5,892 Shares of Intel Co. (NASDAQ:INTC)

Wedmont Private Capital reduced its stake in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 24.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,963 shares of the chip maker’s stock after selling 5,892 shares during the quarter. Wedmont Private Capital’s holdings in Intel were worth $516,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Intel during the second quarter valued at $36,000. Lumature Wealth Partners LLC boosted its stake in shares of Intel by 146.7% during the first quarter. Lumature Wealth Partners LLC now owns 824 shares of the chip maker’s stock valued at $41,000 after purchasing an additional 490 shares during the period. O Dell Group LLC boosted its stake in shares of Intel by 258.1% during the third quarter. O Dell Group LLC now owns 974 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 702 shares during the period. Islay Capital Management LLC purchased a new stake in Intel in the third quarter worth about $26,000. Finally, Mach 1 Financial Group LLC purchased a new stake in Intel in the third quarter worth about $29,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intel news, CFO David Zinsner purchased 1,800 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the acquisition, the chief financial officer now owns 17,450 shares in the company, valued at $486,680.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO David Zinsner acquired 1,800 shares of the stock in a transaction on Monday, January 30th. The shares were acquired at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the transaction, the chief financial officer now owns 17,450 shares in the company, valued at approximately $486,680.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 9,700 shares of the stock in a transaction on Thursday, February 23rd. The stock was bought at an average price of $25.68 per share, for a total transaction of $249,096.00. Following the transaction, the chief executive officer now owns 18,700 shares in the company, valued at approximately $480,216. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 20,500 shares of company stock worth $549,768. 0.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Rosenblatt Securities lowered their price objective on shares of Intel from $20.00 to $17.00 and set a “sell” rating for the company in a research note on Friday, January 27th. StockNews.com assumed coverage on shares of Intel in a research note on Thursday. They issued a “hold” rating for the company. Mizuho lowered their price objective on shares of Intel from $32.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. Truist Financial lowered their price objective on shares of Intel from $33.00 to $29.00 in a research note on Friday, January 27th. Finally, Cowen assumed coverage on shares of Intel in a research report on Monday, November 21st. They set a “market perform” rating and a $31.00 price target for the company. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.38.

Intel Stock Performance

INTC opened at $29.81 on Friday. Intel Co. has a 52-week low of $24.59 and a 52-week high of $52.51. The firm’s 50-day moving average price is $28.09 and its 200-day moving average price is $28.14. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.36. The company has a market cap of $123.32 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 8.95 and a beta of 0.81.

Intel (NASDAQ:INTC – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a return on equity of 7.45% and a net margin of 12.71%. The business had revenue of $14.04 billion during the quarter, compared to analyst estimates of $14.49 billion. During the same quarter last year, the company posted $1.09 EPS. Intel’s quarterly revenue was down 31.6% compared to the same quarter last year. As a group, equities analysts anticipate that Intel Co. will post 0.55 EPS for the current fiscal year.

Intel Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Thursday, May 4th. This represents a $0.50 annualized dividend and a yield of 1.68%. Intel’s dividend payout ratio (DPR) is presently 74.49%.

Intel Company Profile

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.