First Horizon Advisors Inc. Reduces Holdings in Intel Co. (NASDAQ:INTC)

First Horizon Advisors Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,598 shares of the chip maker’s stock after selling 3,885 shares during the period. First Horizon Advisors Inc.’s holdings in Intel were worth $4,251,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. New Millennium Group LLC lifted its holdings in 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 purchasing an additional 231 shares in the last quarter. Legacy Financial Group LLC acquired a new position in Intel in the 3rd quarter valued at $30,000. Raleigh Capital Management Inc. lifted its stake in shares of Intel by 62.8% during the 3rd 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. Valued Wealth Advisors LLC acquired a new position in Intel in the fourth quarter valued at $36,000. Finally, Briaud Financial Planning Inc purchased a new position in Intel during the third quarter worth about $40,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INTC shares. Sanford C. Bernstein cut their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. TD Cowen decreased their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Bank of America lowered their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, April 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 company. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Stock Up 1.3 %

NASDAQ INTC traded up $0.39 during trading hours on Friday, reaching $30.90. 36,731,368 shares of the company traded hands, compared to its average volume of 48,594,387. The company has a 50 day moving average of $39.84 and a two-hundred day moving average of $42.06. The stock has a market capitalization of $131.54 billion, a PE ratio of 32.19, a PEG ratio of 9.88 and a beta of 1.09. Intel Co. has a 12 month low of $26.85 and a 12 month 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired 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 in the company, valued at approximately $1,108,340.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $31.42 per share, for a total transaction 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 approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate 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.