First Heartland Consultants Inc. Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

First Heartland Consultants Inc. cut its stake in Intel Co. (NASDAQ:INTC) by 11.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,264 shares of the chip maker’s stock after selling 1,078 shares during the period. First Heartland Consultants Inc.’s holdings in Intel were worth $415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. New Millennium Group LLC boosted its stake in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after acquiring an additional 362 shares during the period. Valued Wealth Advisors LLC bought a new position in Intel in the 4th quarter valued at $36,000. Signature Resources Capital Management LLC purchased a new stake in Intel in the fourth quarter worth $37,000. Finally, Bare Financial Services Inc bought a new stake in shares of Intel during the fourth quarter worth $39,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. TD Cowen lowered their target price on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday, April 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $39.58.

Intel Price Performance

NASDAQ:INTC traded down $0.20 during trading hours on Friday, hitting $31.83. 41,449,777 shares of the stock were exchanged, compared to its average volume of 54,054,952. The firm’s fifty day moving average price is $37.00 and its 200 day moving average price is $41.75. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a market cap of $135.50 billion, a P/E ratio of 33.16, a P/E/G ratio of 10.49 and a beta of 1.09. 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 issued its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm 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%. As a group, equities research analysts anticipate that Intel Co. will post 0.13 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared 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 of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s payout ratio is presently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction 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 purchase, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was acquired 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 of the company’s stock, valued at $1,108,340.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

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.