Connecticut Wealth Management LLC Reduces Stake in Intel Co. (NASDAQ:INTC)

Connecticut Wealth Management LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,313 shares of the chip maker’s stock after selling 438 shares during the period. Connecticut Wealth Management LLC’s holdings in Intel were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. New Millennium Group LLC boosted its holdings in 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 purchasing an additional 231 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of 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 buying an additional 362 shares during the period. Valued Wealth Advisors LLC purchased a new position in Intel in the fourth quarter worth approximately $36,000. Signature Resources Capital Management LLC purchased a new position in Intel in the fourth quarter worth approximately $37,000. Finally, Bare Financial Services Inc acquired a new stake in Intel during the fourth quarter worth $39,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 1.3 %

INTC stock traded up $0.39 during trading on Friday, hitting $30.90. 36,794,828 shares of the company’s stock were exchanged, compared to its average volume of 58,447,700. The stock has a market capitalization of $131.54 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 10.05 and a beta of 1.09. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $39.60 and a two-hundred day moving average price of $42.11.

Intel Dividend Announcement

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

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Susquehanna lowered their price target on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Raymond James dropped their price target on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Sanford C. Bernstein decreased their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group lowered their price objective on shares of Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday, April 26th. Finally, Truist Financial cut their target price on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.75.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of 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 filing with the SEC, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief executive officer now directly 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 is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following 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.

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.