Nicholas Hoffman & Company LLC. Sells 2,354 Shares of Intel Co. (NASDAQ:INTC)

Nicholas Hoffman & Company LLC. reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 12.9% in the 1st quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Financial Concepts LLC grew its stake in Intel by 16.1% in the first quarter. Strategic Financial Concepts LLC now owns 5,410 shares of the chip maker’s stock valued at $239,000 after purchasing an additional 751 shares in the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of Intel by 18.8% in the 1st quarter. Confluence Wealth Services Inc. now owns 45,748 shares of the chip maker’s stock valued at $2,021,000 after buying an additional 7,243 shares during the last quarter. Johnson Bixby & Associates LLC grew its stake in shares of Intel by 0.7% in the first quarter. Johnson Bixby & Associates LLC now owns 50,554 shares of the chip maker’s stock valued at $2,233,000 after buying an additional 360 shares in the last quarter. Founders Capital Management LLC increased its holdings in Intel by 0.6% during the first quarter. Founders Capital Management LLC now owns 53,517 shares of the chip maker’s stock worth $2,364,000 after buying an additional 300 shares during the last quarter. Finally, Nilsine Partners LLC raised its position in Intel by 140.2% during the first quarter. Nilsine Partners LLC now owns 10,834 shares of the chip maker’s stock worth $479,000 after acquiring an additional 6,324 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INTC shares. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday. Roth Mkm dropped their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen decreased their target price on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a report on Friday. Finally, Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.75.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.89 during midday trading on Tuesday, reaching $30.47. 72,176,616 shares of the company were exchanged, compared to its average volume of 48,540,945. Intel Co. has a one year low of $26.85 and a one 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. The stock has a market cap of $128.83 billion, a P/E ratio of 31.74, a PEG ratio of 2.89 and a beta of 1.00. The stock’s 50-day moving average price is $40.35 and its 200-day moving average price is $42.23.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.64%. Intel’s payout ratio is 52.08%.

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.