Woodmont Investment Counsel LLC Trims Position in Intel Co. (NASDAQ:INTC)

Woodmont Investment Counsel LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,760 shares of the chip maker’s stock after selling 370 shares during the period. Woodmont Investment Counsel LLC’s holdings in Intel were worth $1,535,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Intel by 5.6% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 17,488 shares of the chip maker’s stock worth $772,000 after purchasing an additional 932 shares during the period. Tributary Capital Management LLC purchased a new stake in Intel in the first quarter worth $27,000. Steele Capital Management Inc. grew its stake in Intel by 5.8% in the first quarter. Steele Capital Management Inc. now owns 8,792 shares of the chip maker’s stock worth $388,000 after purchasing an additional 483 shares during the period. AlphaMark Advisors LLC grew its stake in Intel by 39.4% in the first quarter. AlphaMark Advisors LLC now owns 3,537 shares of the chip maker’s stock worth $156,000 after purchasing an additional 1,000 shares during the period. Finally, Dominguez Wealth Management Solutions Inc. grew its stake in Intel by 1.2% in the first quarter. Dominguez Wealth Management Solutions Inc. now owns 51,070 shares of the chip maker’s stock worth $2,256,000 after purchasing an additional 630 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTC. The Goldman Sachs Group reduced their price target on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Wells Fargo & Company dropped their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Susquehanna dropped their target price on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. TD Cowen dropped their target price on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, Mizuho dropped their target price on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Three equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.58.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,192,668.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

Intel stock traded up $0.21 during mid-day trading on Tuesday, reaching $31.05. 22,163,273 shares of the company’s stock traded hands, compared to its average volume of 46,532,938. The company has a market cap of $132.18 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 14.76 and a beta of 1.05. The stock has a 50 day moving average of $31.08 and a two-hundred day moving average of $39.46. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 12-month low of $29.73 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Equities analysts forecast that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, May 6th. Intel’s payout ratio is presently 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.