Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 3,971 Shares of Intel Co. (NASDAQ:INTC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in Intel Co. (NASDAQ:INTC) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,715 shares of the chip maker’s stock after selling 3,971 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Intel were worth $3,654,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INTC. Peregrine Asset Advisers Inc. boosted its stake in Intel by 2.0% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 25,720 shares of the chip maker’s stock valued at $1,292,000 after buying an additional 500 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Intel by 15.7% during the 4th quarter. Apollon Wealth Management LLC now owns 144,689 shares of the chip maker’s stock valued at $7,271,000 after purchasing an additional 19,611 shares during the last quarter. Lincoln National Corp increased its position in Intel by 0.3% during the 4th quarter. Lincoln National Corp now owns 122,614 shares of the chip maker’s stock worth $6,161,000 after purchasing an additional 412 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in Intel by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 328,531 shares of the chip maker’s stock valued at $16,509,000 after buying an additional 6,966 shares in the last quarter. Finally, Idaho Trust Bank bought a new stake in shares of Intel during the fourth quarter worth $281,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on INTC. TD Cowen cut their price objective on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Morgan Stanley cut their target price on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Roth Mkm decreased their price target on shares of Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Raymond James cut their price target on shares of Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

Shares of INTC traded down $0.29 during mid-day trading on Tuesday, hitting $30.68. The stock had a trading volume of 44,615,995 shares, compared to its average volume of 48,394,598. 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 firm has a market cap of $130.60 billion, a P/E ratio of 31.96, a PEG ratio of 10.05 and a beta of 1.09. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The business has a fifty day moving average price of $39.12 and a 200-day moving average price of $42.05.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly 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 is accessible through this hyperlink. In other news, 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, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. 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.