Cornerstone Advisors LLC Sells 2,800 Shares of Intel Co. (NASDAQ:INTC)

Cornerstone Advisors LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,300 shares of the chip maker’s stock after selling 2,800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Intel were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Slow Capital Inc. lifted its holdings in shares of Intel by 0.9% during the fourth 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 during the period. Altus Wealth Group LLC boosted its holdings 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 worth $1,272,000 after acquiring an additional 5,759 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings 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 purchasing an additional 2,915 shares in the last quarter. Alera Investment Advisors LLC acquired a new stake in Intel during the 4th quarter valued at $201,000. Finally, Brookstone Capital Management raised its position in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

INTC traded down $1.89 during trading on Friday, hitting $32.98. The stock had a trading volume of 69,628,654 shares, compared to its average volume of 50,896,944. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a 50 day moving average price of $31.56 and a 200-day moving average price of $37.97. Intel Co. has a one year low of $29.73 and a one year high of $51.28. The firm has a market cap of $140.40 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 19.74 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share 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 for the quarter, compared to analyst estimates of $12.76 billion. As a group, research analysts predict that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued 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 dividend yield of 1.52%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel 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 completion of the transaction, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was bought at an average cost 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INTC shares. Wedbush decreased their target price on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a report on Friday, April 26th. Morgan Stanley lowered their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. JPMorgan Chase & Co. cut their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday, April 26th. Stifel Nicolaus restated a “hold” rating and set a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.25.

Intel 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.