Delta Asset Management LLC TN Sells 7,369 Shares of Intel Co. (NASDAQ:INTC)

Delta Asset Management LLC TN decreased its position in shares of Intel Co. (NASDAQ:INTC) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,728 shares of the chip maker’s stock after selling 7,369 shares during the period. Delta Asset Management LLC TN’s holdings in Intel were worth $6,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in INTC. Barrett & Company Inc. increased its stake in shares of Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after acquiring an additional 210 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after purchasing an additional 216 shares during the last quarter. New Millennium Group LLC boosted 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 during the last quarter. Waldron Private Wealth LLC increased its holdings in shares of Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after buying an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. raised its position in shares of Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction 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 that occurred on Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on INTC shares. Wolfe Research raised Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. UBS Group upped their price objective on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Raymond James dropped their target price on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $39.58.

Intel Stock Performance

Shares of NASDAQ INTC traded down $0.32 during trading hours on Wednesday, reaching $31.42. The stock had a trading volume of 36,235,449 shares, compared to its average volume of 47,963,137. The firm has a market cap of $133.75 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 15.43 and a beta of 1.09. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The firm has a 50-day moving average of $36.48 and a 200-day moving average of $41.74. 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:INTC) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. Equities research analysts predict that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

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.