OLD Point Trust & Financial Services N A Cuts Stock Position in Intel Co. (NASDAQ:INTC)

OLD Point Trust & Financial Services N A lessened its position in Intel Co. (NASDAQ:INTCFree Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,310 shares of the chip maker’s stock after selling 6,390 shares during the quarter. Intel makes up 2.7% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 14th largest holding. OLD Point Trust & Financial Services N A’s holdings in Intel were worth $6,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Millennium Group LLC raised its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Burkett Financial Services LLC purchased a new stake in Intel during the 4th quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new stake in Intel during the 4th quarter worth about $27,000. Valued Wealth Advisors LLC purchased a new stake in Intel during the 4th quarter worth about $36,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of Intel in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction dated Monday, April 29th. The stock was 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 directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction on Wednesday, May 1st. The stock was purchased 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 in the company, valued at $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction 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 transaction, 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. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.32 during trading on Friday, reaching $30.74. The company had a trading volume of 34,085,530 shares, compared to its average volume of 42,563,780. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28. The stock has a market capitalization of $130.86 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 14.50 and a beta of 1.06. The stock has a 50-day moving average price of $33.30 and a two-hundred day moving average price of $40.83. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTCGet Free Report) last released its quarterly 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). The company had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. As a group, sell-side analysts predict that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Roth Mkm lowered their target price on Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered their target price on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday, April 26th. Bank of America reduced their price target on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Jefferies Financial Group began coverage on Intel in a report on Monday, May 13th. They issued a “hold” rating and a $34.00 price target for the company. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned 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 $39.58.

Check Out Our Latest Stock Report on INTC

Intel Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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