Blodgett Wealth Advisors LLC Reduces Position in Intel Co. (NASDAQ:INTC)

Blodgett Wealth Advisors LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 11.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,691 shares of the chip maker’s stock after selling 1,000 shares during the period. Blodgett Wealth Advisors LLC’s holdings in Intel were worth $386,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INTC. Barrett & Company Inc. increased its stake in Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Intel by 3.0% during the 4th 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 in the last quarter. New Millennium Group LLC increased its stake in 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 in the last quarter. Waldron Private Wealth LLC boosted its holdings in shares of Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. boosted its holdings in shares of Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after acquiring an additional 246 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 9.2 %

Intel stock traded down $3.23 during midday trading on Friday, hitting $31.88. 119,590,954 shares of the stock were exchanged, compared to its average volume of 48,144,715. 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 $134.79 billion, a price-to-earnings ratio of 81.75, a PEG ratio of 3.13 and a beta of 1.00. The stock’s 50-day simple moving average is $40.88 and its 200 day simple moving average is $42.23. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business earned $0.10 earnings per share. Intel’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Intel Co. will post 0.6 EPS for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is currently 128.21%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, 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 insiders.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent research reports. The Goldman Sachs Group dropped their price objective on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday. Roth Mkm dropped their price objective on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. Truist Financial dropped their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $39.75.

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.