Cambridge Trust Co. Sells 7,401 Shares of Intel Co. (NASDAQ:INTC)

Cambridge Trust Co. lessened its holdings in Intel Co. (NASDAQ:INTC – Get Rating) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,260 shares of the chip maker’s stock after selling 7,401 shares during the quarter. Cambridge Trust Co.’s holdings in Intel were worth $1,355,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. O Dell Group LLC boosted its stake in Intel by 258.1% during the 3rd quarter. O Dell Group LLC now owns 974 shares of the chip maker’s stock worth $25,000 after acquiring an additional 702 shares during the last quarter. Islay Capital Management LLC bought a new position in Intel during the 3rd quarter worth approximately $26,000. Mach 1 Financial Group LLC acquired a new stake in Intel during the 3rd quarter worth approximately $29,000. Grayhawk Investment Strategies Inc. acquired a new stake in Intel during the 2nd quarter worth approximately $36,000. Finally, Lowe Wealth Advisors LLC raised its holdings in Intel by 46.2% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 1,592 shares of the chip maker’s stock worth $41,000 after buying an additional 503 shares during the period. Institutional investors own 59.48% of the company’s stock.

Intel Trading Down 1.2 %

NASDAQ INTC opened at $29.81 on Friday. Intel Co. has a 12 month low of $24.59 and a 12 month high of $52.51. The firm has a market capitalization of $123.32 billion, a P/E ratio of 15.21, a PEG ratio of 8.95 and a beta of 0.81. The business has a fifty day simple moving average of $28.09 and a 200 day simple moving average of $28.14. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

Intel (NASDAQ:INTC – Get Rating) last announced its earnings results on Thursday, January 26th. The chip maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a net margin of 12.71% and a return on equity of 7.45%. The business had revenue of $14.04 billion for the quarter, compared to analysts’ expectations of $14.49 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was down 31.6% compared to the same quarter last year. On average, analysts predict that Intel Co. will post 0.55 EPS for the current fiscal year.

Intel Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. Intel’s payout ratio is 74.49%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 9,700 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was acquired at an average price of $25.68 per share, for a total transaction of $249,096.00. Following the purchase, the chief executive officer now directly owns 18,700 shares in the company, valued at $480,216. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO David Zinsner acquired 1,800 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average cost of $27.89 per share, with a total value of $50,202.00. Following the acquisition, the chief financial officer now owns 17,450 shares in the company, valued at approximately $486,680.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 9,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were purchased at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the acquisition, the chief executive officer now owns 18,700 shares in the company, valued at approximately $480,216. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 20,500 shares of company stock worth $549,768. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

INTC has been the topic of several research analyst reports. Cowen initiated coverage on shares of Intel in a report on Monday, November 21st. They set a “market perform” rating and a $31.00 target price on the stock. Cowen lowered their price objective on shares of Intel from $31.00 to $26.00 and set a “market perform” rating on the stock in a report on Friday, January 27th. Evercore ISI set a $30.00 target price on shares of Intel in a report on Wednesday, November 23rd. Morgan Stanley upgraded shares of Intel from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $29.50 to $28.00 in a report on Thursday, February 23rd. Finally, Northland Securities reduced their price objective on shares of Intel from $52.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 27th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.38.

About Intel

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.