Cullen Frost Bankers Inc. Trims Stock Position in Intel Co. (NASDAQ:INTC)

Cullen Frost Bankers Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 14.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 175,145 shares of the chip maker’s stock after selling 29,538 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intel were worth $8,801,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. New Millennium Group LLC increased its position in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Raleigh Capital Management Inc. increased 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 purchasing an additional 362 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Intel in the fourth quarter valued at about $36,000. Signature Resources Capital Management LLC acquired a new position in shares of Intel during the fourth quarter worth about $37,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Intel in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of Intel stock opened at $30.00 on Thursday. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market cap of $127.71 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. The firm’s 50-day simple moving average is $39.12 and its 200-day simple moving average is $42.05.

Intel Dividend Announcement

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

Analyst Upgrades and Downgrades

INTC has been the topic of several recent research reports. HSBC reduced their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, April 26th. Evercore ISI dropped their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Truist Financial decreased their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.62.

Insider Transactions at Intel

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

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.