Cary Street Partners Investment Advisory LLC Has $1.51 Million Stock Position in Intel Co. (NASDAQ:INTC)

Cary Street Partners Investment Advisory LLC decreased its position in Intel Co. (NASDAQ:INTC) by 60.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,227 shares of the chip maker’s stock after selling 45,392 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Intel were worth $1,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC grew its holdings in shares of 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 buying an additional 231 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Intel in the 4th quarter valued at $36,000. Legacy Financial Group LLC acquired a new position in Intel in the 3rd quarter worth $30,000. Raleigh Capital Management Inc. boosted its stake in Intel by 62.8% in 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. Finally, Financial Connections Group Inc. acquired a new position in Intel in the 4th quarter worth $52,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Intel Price Performance

NASDAQ:INTC traded down $0.58 during mid-day trading on Tuesday, reaching $30.78. The stock had a trading volume of 34,136,886 shares, compared to its average volume of 48,070,648. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The stock has a market capitalization of $130.14 billion, a PE ratio of 32.34, a P/E/G ratio of 2.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a 50-day simple moving average of $40.63 and a two-hundred day simple moving average of $42.27.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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 annualized dividend and a dividend yield of 1.62%. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INTC. Raymond James reduced their target price on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Roth Mkm reduced their target price on shares of Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Barclays reduced their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday. The Goldman Sachs Group reduced their target price on shares of Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Friday. Finally, Evercore ISI cut their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.75.

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.