Grant GrossMendelsohn LLC Sells 976 Shares of Intel Co. (NASDAQ:INTC)

Grant GrossMendelsohn LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,914 shares of the chip maker’s stock after selling 976 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in Intel were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of INTC. Frontier Wealth Management LLC increased its holdings in shares of Intel by 0.5% during the 1st quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock worth $2,181,000 after buying an additional 253 shares during the last quarter. West Michigan Advisors LLC increased its holdings in shares of Intel by 5.4% during the 1st quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock worth $255,000 after buying an additional 262 shares during the last quarter. Crawford Investment Counsel Inc. increased its holdings in shares of Intel by 1.2% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 25,830 shares of the chip maker’s stock worth $966,000 after buying an additional 294 shares during the last quarter. Retirement Income Solutions Inc increased its holdings in shares of Intel by 5.1% during the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after buying an additional 307 shares during the last quarter. Finally, Roberts Glore & Co. Inc. IL boosted its position in shares of Intel by 0.4% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 82,863 shares of the chip maker’s stock worth $3,100,000 after purchasing an additional 320 shares during the period. 59.48% of the stock is owned by institutional investors.

Intel Price Performance

Shares of INTC opened at $29.81 on Friday. Intel Co. has a twelve month low of $24.59 and a twelve month high of $52.51. The firm’s fifty day simple moving average is $28.09 and its 200-day simple moving average is $28.14. The firm has a market capitalization of $123.32 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 8.95 and a beta of 0.81. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

Intel (NASDAQ:INTC – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a return on equity of 7.45% and a net margin of 12.71%. The company had revenue of $14.04 billion for the quarter, compared to analyst estimates of $14.49 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. Intel’s revenue was down 31.6% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post 0.55 EPS for the current fiscal year.

Intel Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a yield of 1.68%. Intel’s dividend payout ratio is currently 74.49%.

Analyst Ratings Changes

A number of research firms recently weighed in on INTC. Susquehanna raised shares of Intel from a “negative” rating to a “neutral” rating and increased their price objective for the stock from $23.00 to $26.00 in a research report on Thursday. Sanford C. Bernstein set a $20.00 price objective on shares of Intel in a research report on Friday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Intel in a research report on Thursday, February 23rd. Raymond James began coverage on shares of Intel in a research report on Wednesday, March 1st. They set an “outperform” rating and a $30.00 price objective for the company. Finally, StockNews.com began coverage on shares of Intel in a research report on Thursday. They set a “hold” rating for the company. Eight equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.38.

Insider Buying and Selling

In related news, CFO David Zinsner purchased 1,800 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The shares were purchased at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the purchase, the chief financial officer now directly owns 17,450 shares of the company’s stock, valued at $486,680.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intel news, CFO David Zinsner acquired 1,800 shares of the company’s stock in a transaction on Monday, January 30th. The shares were bought at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the purchase, the chief financial officer now owns 17,450 shares in the company, valued at approximately $486,680.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger acquired 9,700 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was acquired at an average price of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the purchase, the chief executive officer now owns 18,700 shares of the company’s stock, valued at approximately $480,216. The disclosure for this purchase can be found here. Insiders have purchased 20,500 shares of company stock worth $549,768 in the last ninety days. 0.02% of the stock is owned by corporate insiders.

About Intel

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.