Nicholas Hoffman & Company LLC. Lowers Stake in Intel Co. (NASDAQ:INTC)

Nicholas Hoffman & Company LLC. trimmed its holdings in Intel Co. (NASDAQ:INTC) by 12.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,868 shares of the chip maker’s stock after selling 2,354 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Intel were worth $701,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. New Millennium Group LLC grew its stake in shares of Intel by 87.2% in 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. Burkett Financial Services LLC acquired a new position in Intel in the 4th quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter worth $27,000. Tributary Capital Management LLC acquired a new stake in Intel in the first quarter valued at about $27,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $42.74 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Intel Trading Down 2.8 %

Shares of NASDAQ INTC traded down $0.89 during midday trading on Tuesday, hitting $30.47. The stock had a trading volume of 72,176,616 shares, compared to its average volume of 48,540,945. The company has a fifty day moving average price of $40.35 and a 200 day moving average price of $42.23. The company has a market capitalization of $128.83 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.89 and a beta of 1.00. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. 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 Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.64%. Intel’s dividend payout ratio (DPR) is 52.08%.

Wall Street Analyst Weigh In

INTC has been the topic of several research analyst reports. Citigroup decreased their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Barclays reduced their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial decreased their target price on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday. Roth Mkm lowered their price target on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Evercore ISI cut their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.75.

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.