Clifford Swan Investment Counsel LLC Trims Stake in Intel Co. (NASDAQ:INTC)

Clifford Swan Investment Counsel LLC reduced its holdings in Intel Co. (NASDAQ:INTC) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 718,168 shares of the chip maker’s stock after selling 67,126 shares during the quarter. Intel accounts for about 1.4% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 13th largest position. Clifford Swan Investment Counsel LLC’s holdings in Intel were worth $36,088,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INTC. New Millennium Group LLC increased its stake in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Intel during the 4th quarter valued at about $36,000. Signature Resources Capital Management LLC bought a new stake in Intel in the 4th quarter worth approximately $37,000. Bare Financial Services Inc purchased a new stake in Intel in the fourth quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. grew its position in Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after acquiring an additional 362 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

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

Intel Stock Up 1.3 %

Intel stock traded up $0.39 during mid-day trading on Friday, reaching $30.90. The stock had a trading volume of 36,794,828 shares, compared to its average volume of 58,447,700. The company has a market capitalization of $131.54 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a one year low of $26.85 and a one year high of $51.28. The company has a 50-day moving average price of $39.60 and a two-hundred day moving average price of $42.11.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is 52.08%.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Friday, April 26th. Sanford C. Bernstein lowered their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Truist Financial cut their price target 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. Wells Fargo & Company decreased their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, The Goldman Sachs Group dropped their target price on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.75.

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.