Steele Capital Management Inc. Buys New Position in Intel Co. (NASDAQ:INTC)

Steele Capital Management Inc. purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,309 shares of the chip maker’s stock, valued at approximately $418,000.

A number of other institutional investors have also modified their holdings of the company. New Millennium Group LLC grew its stake in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the period. Valued Wealth Advisors LLC acquired a new position in Intel in the fourth quarter valued at $36,000. Legacy Financial Group LLC acquired a new position in Intel in the third quarter valued at $30,000. Raleigh Capital Management Inc. lifted its position in 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 buying an additional 362 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in Intel in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HSBC cut their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Citigroup cut their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. Barclays cut their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Sanford C. Bernstein decreased their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, twenty-one have given 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 target price of $39.75.

Intel Stock Performance

NASDAQ INTC traded down $0.39 during trading hours on Tuesday, reaching $30.97. The company’s stock had a trading volume of 20,125,564 shares, compared to its average volume of 47,926,219. The stock has a market cap of $130.94 billion, a PE ratio of 32.34, a PEG ratio of 2.89 and a beta of 1.00. The business has a 50-day simple moving average of $40.63 and a 200 day simple moving average of $42.27. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

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.