Poplar Forest Capital LLC Sells 512,813 Shares of Intel Co. (NASDAQ:INTC)

Poplar Forest Capital LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 43.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 667,123 shares of the chip maker’s stock after selling 512,813 shares during the period. Intel accounts for about 4.9% of Poplar Forest Capital LLC’s holdings, making the stock its 3rd biggest holding. Poplar Forest Capital LLC’s holdings in Intel were worth $33,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTC. Flagship Harbor Advisors LLC boosted its holdings in Intel by 8.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 30,164 shares of the chip maker’s stock valued at $1,072,000 after purchasing an additional 2,369 shares during the last quarter. Impact Partnership Wealth LLC grew its position in Intel by 85.8% in the third quarter. Impact Partnership Wealth LLC now owns 4,162 shares of the chip maker’s stock worth $148,000 after acquiring an additional 1,922 shares during the period. Founders Financial Securities LLC grew its position in Intel by 14.8% in the third quarter. Founders Financial Securities LLC now owns 31,444 shares of the chip maker’s stock worth $1,118,000 after acquiring an additional 4,062 shares during the period. Integrated Investment Consultants LLC increased its stake in Intel by 3.5% during the third quarter. Integrated Investment Consultants LLC now owns 9,437 shares of the chip maker’s stock worth $335,000 after acquiring an additional 318 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in Intel by 106.9% in the third quarter. Meridian Wealth Management LLC now owns 49,590 shares of the chip maker’s stock valued at $1,764,000 after purchasing an additional 25,619 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of INTC stock traded up $0.22 during mid-day trading on Wednesday, hitting $34.50. The stock had a trading volume of 53,139,284 shares, compared to its average volume of 47,006,406. The firm has a market cap of $145.87 billion, a PE ratio of 88.46, a PEG ratio of 3.09 and a beta of 1.00. The company’s 50-day simple moving average is $41.29 and its 200-day simple moving average is $42.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last posted 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 the consensus estimate of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Sell-side analysts anticipate that Intel Co. will post 0.61 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on INTC shares. Truist Financial reaffirmed a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Mizuho dropped their price objective on Intel from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Evercore ISI initiated coverage on Intel in a research note on Tuesday, April 16th. They set an “in-line” rating and a $40.00 target price on the stock. Barclays lifted their target price on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group increased their price target on shares of Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.38.

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.