Coastwise Capital Group LLC Decreases Position in Intel Co. (NASDAQ:INTC)

Coastwise Capital Group LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,744 shares of the chip maker’s stock after selling 1,547 shares during the quarter. Intel makes up 1.2% of Coastwise Capital Group LLC’s portfolio, making the stock its 24th biggest holding. Coastwise Capital Group LLC’s holdings in Intel were worth $1,143,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC lifted its position in shares of 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 in the last quarter. Burkett Financial Services LLC purchased a new position in Intel during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new position in Intel during the fourth quarter worth about $27,000. Valued Wealth Advisors LLC purchased a new position in Intel during the fourth quarter worth about $36,000. Finally, Signature Resources Capital Management LLC purchased a new position in Intel during the fourth quarter worth about $37,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the transaction, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.01 during mid-day trading on Tuesday, hitting $30.92. The company had a trading volume of 25,295,936 shares, compared to its average volume of 47,467,621. The stock has a market cap of $131.63 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 14.65 and a beta of 1.06. Intel Co. has a 12 month low of $29.73 and a 12 month high of $51.28. 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 firm’s 50 day simple moving average is $32.77 and its two-hundred day simple moving average is $40.63.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $12.72 billion during the quarter, compared to the consensus estimate 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 forecast that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the topic of several recent analyst reports. StockNews.com upgraded Intel from a “sell” rating to a “hold” rating in a research report on Friday. Barclays reduced their target price 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. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. UBS Group upped their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, The Goldman Sachs Group dropped their price target on Intel from $34.00 to $30.00 and set a “sell” rating for the company in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $39.58.

About Intel

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.