WASHINGTON TRUST Co Sells 550 Shares of Intel Co. (NASDAQ:INTC)

WASHINGTON TRUST Co decreased its position in Intel Co. (NASDAQ:INTC) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,205 shares of the chip maker’s stock after selling 550 shares during the quarter. WASHINGTON TRUST Co’s holdings in Intel were worth $1,618,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in INTC. New Millennium Group LLC lifted its position in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Cornerstone Planning Group LLC acquired a new position in Intel in the second quarter valued at approximately $25,000. Legacy Financial Group LLC acquired a new position in Intel in the third quarter valued at approximately $30,000. Milestone Investment Advisors LLC acquired a new position in shares of Intel during the first quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after purchasing an additional 362 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 0.8 %

INTC stock traded up $0.33 during trading hours on Thursday, hitting $44.10. The company’s stock had a trading volume of 29,884,645 shares, compared to its average volume of 44,955,461. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a market capitalization of $186.45 billion, a PE ratio of 113.87, a price-to-earnings-growth ratio of 4.38 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $43.98 and a two-hundred day moving average price of $42.01.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Intel Co. will post 0.64 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.13%. Intel’s payout ratio is currently 128.21%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of a number of research reports. Wedbush reaffirmed a “neutral” rating and set a $40.00 target price on shares of Intel in a research report on Friday, February 16th. Benchmark lifted their price objective on shares of Intel from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, January 26th. HSBC dropped their price objective on shares of Intel from $46.00 to $44.00 and set a “hold” rating for the company in a report on Friday, January 26th. Mizuho decreased their price objective on shares of Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, January 26th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.48.

Intel 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.