FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Holdings in Intel Co. (NASDAQ:INTC)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Intel Co. (NASDAQ:INTC) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,488 shares of the chip maker’s stock after purchasing an additional 932 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Intel were worth $772,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. New Millennium Group LLC grew its position in Intel by 87.2% during 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. Burkett Financial Services LLC purchased a new position in Intel during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new position in Intel during the fourth quarter worth about $27,000. Tributary Capital Management LLC purchased a new position in Intel during the first quarter worth about $27,000. Finally, Valued Wealth Advisors LLC purchased a new position in Intel during the fourth quarter worth about $36,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INTC shares. UBS Group lifted their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. The Goldman Sachs Group dropped their price target on Intel from $34.00 to $30.00 and set a “sell” rating for the company in a research note on Thursday, May 9th. Wolfe Research raised Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Citigroup dropped their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $39.58.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the transaction, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was 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 directly owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now 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 currently owned by company insiders.

Intel Stock Up 0.1 %

Shares of INTC stock traded up $0.02 during midday trading on Tuesday, reaching $30.86. 14,650,993 shares of the stock were exchanged, compared to its average volume of 46,468,590. Intel Co. has a 1 year low of $29.73 and a 1 year high of $51.28. The company’s 50 day moving average is $31.08 and its two-hundred day moving average is $39.46. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The firm has a market cap of $131.37 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 14.76 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. On average, equities research analysts predict that Intel Co. will post 0.09 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. Intel’s dividend payout ratio (DPR) is 52.08%.

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.