Sovereign Financial Group Inc. Has $478,000 Holdings in Intel Co. (NASDAQ:INTC)

Sovereign Financial Group Inc. lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,508 shares of the chip maker’s stock after purchasing an additional 410 shares during the period. Sovereign Financial Group Inc.’s holdings in Intel were worth $478,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INTC. Mackenzie Financial Corp boosted its stake in Intel by 31.5% in the third quarter. Mackenzie Financial Corp now owns 1,303,481 shares of the chip maker’s stock valued at $46,521,000 after acquiring an additional 312,442 shares during the last quarter. Cambridge Trust Co. boosted its position in shares of Intel by 14.2% in the 3rd quarter. Cambridge Trust Co. now owns 53,265 shares of the chip maker’s stock worth $1,894,000 after purchasing an additional 6,636 shares during the last quarter. Value Partners Investments Inc. bought a new stake in Intel in the third quarter valued at about $209,000. Washington Capital Management Inc. acquired a new position in Intel in the third quarter valued at about $887,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Intel by 8.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,102,758 shares of the chip maker’s stock worth $288,045,000 after buying an additional 651,421 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INTC shares. Evercore ISI cut their target price on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. TD Cowen cut their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Truist Financial lowered their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group lowered their target price on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a report on Friday, April 26th. Finally, Wells Fargo & Company reduced their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.75.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, 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 document filed with the SEC, which is available through this hyperlink. In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

Intel stock traded down $0.29 during mid-day trading on Tuesday, reaching $30.68. 44,615,995 shares of the company were exchanged, compared to its average volume of 48,394,598. The firm has a market cap of $130.60 billion, a PE ratio of 31.96, a PEG ratio of 10.05 and a beta of 1.09. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a fifty day simple moving average of $39.12 and a 200-day simple moving average of $42.05.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

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.