Cullen Frost Bankers Inc. Sells 29,538 Shares of Intel Co. (NASDAQ:INTC)

Cullen Frost Bankers Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 14.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 175,145 shares of the chip maker’s stock after selling 29,538 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intel were worth $8,801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. New Millennium Group LLC increased its position in shares of Intel by 87.2% during the 4th 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 last quarter. Raleigh Capital Management Inc. boosted its stake in Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after buying an additional 362 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Intel in the fourth quarter valued at $36,000. Signature Resources Capital Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at $37,000. Finally, Bare Financial Services Inc bought a new stake in shares of Intel in the 4th quarter worth about $39,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Down 2.2 %

NASDAQ:INTC opened at $30.00 on Thursday. The company’s 50-day simple moving average is $39.12 and its 200-day simple moving average is $42.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The stock has a market capitalization of $127.71 billion, a P/E ratio of 31.25, a P/E/G ratio of 10.05 and a beta of 1.09.

Intel Dividend Announcement

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 paid a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.67%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group upped 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. Wedbush reduced their price target on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a report on Friday, April 26th. HSBC decreased their price target on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Sanford C. Bernstein decreased their target price on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.62.

Insider Buying and Selling at Intel

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