Welch & Forbes LLC Has $21.85 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Welch & Forbes LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 434,795 shares of the chip maker’s stock after selling 14,543 shares during the quarter. Welch & Forbes LLC’s holdings in Intel were worth $21,848,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INTC. Brown Advisory Inc. boosted its position in shares of Intel by 1.6% in the third quarter. Brown Advisory Inc. now owns 518,272 shares of the chip maker’s stock valued at $18,425,000 after acquiring an additional 8,108 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Intel in the third quarter valued at approximately $149,000. Mackenzie Financial Corp boosted its stake in shares of Intel by 31.5% in the third quarter. Mackenzie Financial Corp now owns 1,303,481 shares of the chip maker’s stock valued at $46,521,000 after buying an additional 312,442 shares during the period. Pennsylvania Capital Management Inc. ADV acquired a new stake in Intel during the third quarter worth approximately $204,000. Finally, Cambridge Trust Co. increased its stake in Intel by 14.2% during the 3rd quarter. Cambridge Trust Co. now owns 53,265 shares of the chip maker’s stock worth $1,894,000 after acquiring an additional 6,636 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction 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 disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Up 0.2 %

Shares of INTC stock traded up $0.07 during trading hours on Monday, reaching $30.97. The company had a trading volume of 36,153,059 shares, compared to its average volume of 48,448,844. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. 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 business has a fifty day simple moving average of $39.36 and a 200-day simple moving average of $42.08. The company has a market cap of $131.84 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09.

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 1.61%. Intel’s dividend payout ratio is presently 52.08%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup cut their target price on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Wedbush cut their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company cut their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Raymond James cut their target price on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Finally, Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.75.

Intel Company 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.