Essex Financial Services Inc. Has $2.44 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Essex Financial Services Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,560 shares of the chip maker’s stock after selling 1,076 shares during the quarter. Essex Financial Services Inc.’s holdings in Intel were worth $2,440,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC raised its holdings 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 buying an additional 231 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Intel during the fourth quarter worth approximately $36,000. Legacy Financial Group LLC bought a new stake in shares of Intel during the third quarter valued at approximately $30,000. Raleigh Capital Management Inc. increased its holdings in shares of Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after purchasing an additional 362 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel in the fourth quarter valued at approximately $52,000. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INTC. The Goldman Sachs Group decreased their price objective on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Friday, April 26th. Citigroup decreased their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Mizuho dropped their price objective on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’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 purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Up 0.1 %

Shares of NASDAQ:INTC traded up $0.04 during midday trading on Wednesday, reaching $30.51. The company had a trading volume of 29,803,413 shares, compared to its average volume of 48,311,355. The stock has a market cap of $129.88 billion, a PE ratio of 31.40, a P/E/G ratio of 3.31 and a beta of 1.00. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The business’s 50 day moving average price is $40.35 and its 200 day moving average price is $42.23. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel Announces Dividend

The company 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 $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.64%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

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.