Summit Trail Advisors LLC Sells 4,021 Shares of Intel Co. (NASDAQ:INTC)

Summit Trail Advisors LLC decreased its position in Intel Co. (NASDAQ:INTC) by 11.9% during the fourth quarter, Holdings Channel reports. The fund owned 29,694 shares of the chip maker’s stock after selling 4,021 shares during the period. Summit Trail Advisors LLC’s holdings in Intel were worth $1,492,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barrett & Company Inc. grew its stake in Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after acquiring an additional 210 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after buying an additional 216 shares during the last quarter. New Millennium Group LLC boosted its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Waldron Private Wealth LLC grew its position in Intel by 0.6% during the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the period. Finally, Spreng Capital Management Inc. increased its stake in Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after acquiring an additional 246 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Up 0.2 %

Intel stock traded up $0.07 during mid-day trading on Monday, hitting $30.97. 36,153,059 shares of the company’s stock were exchanged, compared to its average volume of 48,448,844. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $131.84 billion, a P/E ratio of 32.16, a PEG ratio of 10.05 and a beta of 1.09. The company’s 50 day simple moving average is $39.60 and its 200-day simple moving average is $42.11.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid 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 1.61%. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price 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 $1,192,668.75. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of several research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Barclays cut their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Mizuho dropped their target price on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, April 26th. Finally, TD Cowen reduced their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. Four equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.75.

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.