Stonegate Investment Group LLC Buys 51,428 Shares of Intel Co. (NASDAQ:INTC)

Stonegate Investment Group LLC raised its stake in shares of Intel Co. (NASDAQ:INTC) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001,698 shares of the chip maker’s stock after buying an additional 51,428 shares during the period. Intel accounts for approximately 1.4% of Stonegate Investment Group LLC’s portfolio, making the stock its 26th biggest holding. Stonegate Investment Group LLC’s holdings in Intel were worth $44,245,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INTC. New Millennium Group LLC raised its holdings in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Intel during the fourth quarter valued at about $27,000. Burkett Financial Services LLC bought a new position in Intel during the fourth quarter valued at about $27,000. Tributary Capital Management LLC bought a new position in Intel during the first quarter valued at about $27,000. Finally, Legacy Financial Group LLC bought a new position in Intel during the third quarter valued at about $30,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on INTC shares. Sanford C. Bernstein cut their target price on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday. Citigroup dropped their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Susquehanna dropped their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.75.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of INTC stock traded down $0.89 during trading hours on Tuesday, hitting $30.47. The company had a trading volume of 72,176,616 shares, compared to its average volume of 48,540,945. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The firm 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. The firm’s fifty day moving average is $40.35 and its 200 day moving average is $42.23. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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 dividend yield of 1.64%. Intel’s dividend payout ratio is currently 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.