Waterfront Wealth Inc. Cuts Stake in Intel Co. (NASDAQ:INTC)

Waterfront Wealth Inc. lowered its position in Intel Co. (NASDAQ:INTC) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,364 shares of the chip maker’s stock after selling 1,654 shares during the quarter. Waterfront Wealth Inc.’s holdings in Intel were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC boosted its stake in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares in the last quarter. Cornerstone Planning Group LLC purchased a new stake in shares of Intel during the second quarter valued at approximately $25,000. Legacy Financial Group LLC purchased a new stake in shares of Intel during the third quarter valued at approximately $30,000. Milestone Investment Advisors LLC purchased a new stake in shares of Intel during the first quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 362 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INTC shares. Barclays increased their price objective on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Truist Financial reissued a “hold” rating and set a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Evercore ISI started coverage on Intel in a research note on Tuesday. They set an “in-line” rating and a $40.00 price objective for the company. Bank of America dropped their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, Benchmark reissued a “buy” rating and set a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.62.

Intel Stock Down 1.6 %

Shares of NASDAQ:INTC traded down $0.58 on Wednesday, hitting $35.68. 41,140,963 shares of the company traded hands, compared to its average volume of 46,921,805. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $42.35. The company has a market cap of $150.86 billion, a PE ratio of 91.49, a PEG ratio of 3.21 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly 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. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period last year, the company earned $0.10 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post 0.62 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.40%. Intel’s payout ratio is presently 128.21%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now directly 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 can be accessed through the SEC website. In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now directly 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 can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

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.