Ledyard National Bank Sells 1,170 Shares of Intel Co. (NASDAQ:INTC)

Ledyard National Bank cut its holdings in Intel Co. (NASDAQ:INTC) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,289 shares of the chip maker’s stock after selling 1,170 shares during the period. Ledyard National Bank’s holdings in Intel were worth $1,673,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in INTC. Avestar Capital LLC raised its stake in shares of Intel by 9.9% during the third quarter. Avestar Capital LLC now owns 18,814 shares of the chip maker’s stock valued at $669,000 after acquiring an additional 1,701 shares during the last quarter. Ascent Wealth Partners LLC purchased a new position in shares of Intel during the third quarter valued at about $313,000. PDS Planning Inc increased its position in shares of Intel by 4.5% during the third quarter. PDS Planning Inc now owns 20,395 shares of the chip maker’s stock valued at $725,000 after buying an additional 875 shares during the period. Boyd Watterson Asset Management LLC OH increased its position in shares of Intel by 28.6% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 45,948 shares of the chip maker’s stock valued at $1,633,000 after buying an additional 10,216 shares during the period. Finally, Cavalier Investments LLC increased its position in shares of Intel by 3.8% during the third quarter. Cavalier Investments LLC now owns 63,016 shares of the chip maker’s stock valued at $2,240,000 after buying an additional 2,306 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America reduced their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Mizuho cut their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. Wells Fargo & Company cut their price objective on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Evercore ISI cut their price objective on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.75.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.52 during midday trading on Monday, reaching $31.36. The stock had a trading volume of 58,488,666 shares, compared to its average volume of 48,273,395. The stock has a 50-day moving average of $40.63 and a 200-day moving average of $42.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a market capitalization of $132.59 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. As a group, research analysts anticipate that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The business 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 is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.59%. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

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 stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.