Stonegate Investment Group LLC Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

Stonegate Investment Group LLC grew its stake in Intel Co. (NASDAQ:INTC) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,001,698 shares of the chip maker’s stock after acquiring an additional 51,428 shares during the quarter. Intel comprises 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC increased its stake in Intel by 87.2% in the fourth 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. Frazier Financial Advisors LLC acquired a new position in Intel in the fourth quarter valued at $27,000. Burkett Financial Services LLC acquired a new position in Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in Intel in the first quarter valued at $27,000. Finally, Legacy Financial Group LLC acquired a new position in Intel in the third quarter valued at $30,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on INTC. Evercore ISI dropped their price target on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday. Mizuho dropped their price target on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group dropped their price target on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Friday. UBS Group upped their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, TD Cowen dropped their price target on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Four equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC traded down $0.89 during trading hours on Tuesday, reaching $30.47. 72,176,616 shares of the stock were exchanged, compared to its average volume of 48,540,945. 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 firm has a 50 day simple moving average of $40.35 and a 200-day simple moving average of $42.23. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The stock has a market capitalization of $128.83 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel Announces Dividend

The company also recently announced 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. This represents a $0.50 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 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.