Pekin Hardy Strauss Inc. Sells 2,407 Shares of Intel Co. (NASDAQ:INTC)

Pekin Hardy Strauss Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 35.2% during the 4th quarter, Holdings Channel reports. The firm owned 4,433 shares of the chip maker’s stock after selling 2,407 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Intel were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Accurate Wealth Management LLC raised its position in Intel by 19.1% during the third quarter. Accurate Wealth Management LLC now owns 7,331 shares of the chip maker’s stock valued at $264,000 after purchasing an additional 1,176 shares in the last quarter. Raymond James & Associates increased its position in shares of Intel by 11.6% during the 3rd quarter. Raymond James & Associates now owns 4,781,340 shares of the chip maker’s stock valued at $169,977,000 after purchasing an additional 495,303 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Intel during the 3rd quarter valued at about $217,000. Stratos Wealth Partners LTD. lifted its position in Intel by 3.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 154,025 shares of the chip maker’s stock worth $5,476,000 after buying an additional 5,535 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its stake in Intel by 18.2% in the third quarter. Stratos Wealth Advisors LLC now owns 47,535 shares of the chip maker’s stock worth $1,690,000 after buying an additional 7,335 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the stock in a transaction on Monday, April 29th. The shares were bought at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein lowered their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. HSBC cut their price objective on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Price Performance

INTC opened at $30.37 on Thursday. The company’s 50-day simple moving average is $40.09 and its two-hundred day simple moving average is $42.14. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The stock has a market capitalization of $129.29 billion, a P/E ratio of 31.64, a P/E/G ratio of 8.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Intel Company 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.