Oakworth Capital Inc. Sells 604 Shares of Intel Co. (NASDAQ:INTC)

Oakworth Capital Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,756 shares of the chip maker’s stock after selling 604 shares during the period. Oakworth Capital Inc.’s holdings in Intel were worth $1,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. New Millennium Group LLC increased 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 during the period. Cornerstone Planning Group LLC purchased a new position in shares of Intel during the second quarter valued at approximately $25,000. Legacy Financial Group LLC purchased a new stake in Intel during the third quarter valued at approximately $30,000. Milestone Investment Advisors LLC purchased a new stake in Intel during the first quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. increased its holdings in Intel by 62.8% during the third 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 last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on INTC. Wells Fargo & Company dropped their target price on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. HSBC reduced their price target on shares of Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, January 26th. Barclays increased their target price on shares of Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.62.

Intel Trading Down 2.0 %

Intel stock traded down $0.73 during midday trading on Wednesday, hitting $35.53. 22,953,042 shares of the stock were exchanged, compared to its average volume of 46,667,230. The company has a fifty day simple moving average of $42.32 and a two-hundred day simple moving average of $42.40. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The stock has a market capitalization of $150.22 billion, a PE ratio of 91.28, a P/E/G ratio of 3.21 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Equities research analysts anticipate that Intel Co. will post 0.62 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio is presently 128.21%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired 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 approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Company 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.