Connecticut Wealth Management LLC Sells 438 Shares of Intel Co. (NASDAQ:INTC)

Connecticut Wealth Management LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,313 shares of the chip maker’s stock after selling 438 shares during the period. Connecticut Wealth Management LLC’s holdings in Intel were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in INTC. California Public Employees Retirement System grew its holdings in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares in the last quarter. Wellington Management Group LLP grew its stake in Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after acquiring an additional 5,217,549 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in Intel during the 4th quarter worth approximately $251,250,000. Parnassus Investments LLC lifted its stake in Intel by 24.7% in the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Intel by 6.0% in the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after purchasing an additional 4,226,790 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Mizuho lowered their price objective on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Wells Fargo & Company decreased their price objective on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Sanford C. Bernstein dropped their target price on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Finally, The Goldman Sachs Group decreased their price target on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.75.

Intel Trading Up 1.3 %

Shares of INTC stock traded up $0.39 during trading hours on Friday, reaching $30.90. The company’s stock had a trading volume of 36,794,828 shares, compared to its average volume of 58,447,700. 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 stock has a market capitalization of $131.54 billion, a P/E ratio of 32.19, a P/E/G ratio of 10.05 and a beta of 1.09. The firm’s fifty day simple moving average is $39.60 and its 200 day simple moving average is $42.11. Intel Co. has a one year low of $26.85 and a one year high of $51.28.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.62%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the transaction, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction 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. Corporate insiders own 0.04% of the company’s stock.

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.