Intel Co. (NASDAQ:INTC) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,221 shares of the chip maker’s stock after acquiring an additional 1,651 shares during the quarter. Procyon Advisors LLC’s holdings in Intel were worth $2,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Slow Capital Inc. raised its position in shares of Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares in the last quarter. Altus Wealth Group LLC boosted its position in shares of Intel by 29.4% in the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 5,759 shares during the period. Orion Portfolio Solutions LLC grew its stake in Intel by 3.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after acquiring an additional 2,915 shares in the last quarter. Alera Investment Advisors LLC purchased a new position in Intel during the 4th quarter valued at about $201,000. Finally, Callan Capital LLC grew its stake in Intel by 9.1% during the 4th quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after acquiring an additional 1,474 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on INTC shares. The Goldman Sachs Group dropped their price target on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. Citigroup lowered their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, April 26th. Susquehanna reduced their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Sanford C. Bernstein cut their price target on Intel from $42.00 to $35.00 and set a “market perform” 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 issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intel presently has an average rating of “Hold” and an average target price of $39.58.

Insider Activity at Intel

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

Intel Stock Performance

INTC stock opened at $30.59 on Friday. The firm has a market cap of $130.22 billion, a PE ratio of 31.86, a P/E/G ratio of 14.56 and a beta of 1.06. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $31.24 and a 200-day moving average of $39.68. Intel Co. has a 12-month low of $29.73 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results 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 business had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. As a group, sell-side analysts expect that Intel Co. will post 0.09 earnings per share for the current year.

Intel Announces Dividend

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