Wambolt & Associates LLC Sells 355 Shares of Intel Co. (NASDAQ:INTC)

Wambolt & Associates LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,763 shares of the chip maker’s stock after selling 355 shares during the period. Wambolt & Associates LLC’s holdings in Intel were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. Norges Bank bought a new stake in Intel during the fourth quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD raised its position in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System lifted its stake in Intel by 102.6% during the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Intel by 44.8% in the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after purchasing an additional 6,673,086 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after buying an additional 5,217,549 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of NASDAQ:INTC traded up $0.79 during midday trading on Friday, reaching $32.02. 45,309,446 shares of the company traded hands, compared to its average volume of 34,048,632. Intel Co. has a 12 month low of $29.73 and a 12 month high of $51.28. The firm’s fifty day moving average price is $30.81 and its two-hundred day moving average price is $39.05. 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 firm has a market capitalization of $136.31 billion, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 14.89 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. On average, equities analysts expect that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.56%. Intel’s payout ratio is presently 52.08%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INTC. Truist Financial reduced their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday, April 26th. Citigroup reduced their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Mizuho reduced their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Roth Mkm cut their price target on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.58.

Insiders Place Their Bets

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

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.