SVB Wealth LLC Sells 7,337 Shares of Intel Co. (NASDAQ:INTC)

SVB Wealth LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,611 shares of the chip maker’s stock after selling 7,337 shares during the quarter. SVB Wealth LLC’s holdings in Intel were worth $10,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of INTC. Barrett & Company Inc. increased its position in shares of Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after acquiring an additional 210 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after purchasing an additional 216 shares during the period. New Millennium Group LLC grew its holdings in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Waldron Private Wealth LLC grew its holdings in Intel by 0.6% during the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the period. Finally, Spreng Capital Management Inc. grew its holdings in Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after purchasing an additional 246 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, 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 is accessible through this link. In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares in the company, 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INTC shares. Wells Fargo & Company lowered their price target on Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Bank of America lowered their price target on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Mizuho decreased their price objective on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 26th. TD Cowen decreased their price objective on Intel from $45.00 to $42.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Finally, Truist Financial reiterated a “hold” rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $42.69.

Intel Price Performance

Shares of INTC opened at $36.26 on Wednesday. The firm has a market cap of $153.31 billion, a PE ratio of 92.98, a P/E/G ratio of 3.21 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm 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 1-year low of $26.85 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last announced its 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 business had revenue of $15.40 billion during 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 company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Intel Co. will post 0.62 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.38%. Intel’s dividend payout ratio (DPR) is 128.21%.

Intel 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.