Buckley Wealth Management LLC Reduces Stake in Intel Co. (NASDAQ:INTC)

Buckley Wealth Management LLC decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 132,925 shares of the chip maker’s stock after selling 800 shares during the period. Intel accounts for 2.3% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Buckley Wealth Management LLC’s holdings in Intel were worth $6,679,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in Intel by 100,953.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after acquiring an additional 51,083,262 shares during the last quarter. Norges Bank purchased a new position in shares of Intel in the 4th quarter valued at approximately $1,092,939,000. Clearbridge Investments LLC boosted its holdings in Intel by 4,407.3% in the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after acquiring an additional 16,074,485 shares in the last quarter. Barclays PLC boosted its holdings in Intel by 171.1% in the second quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock worth $715,773,000 after acquiring an additional 13,507,774 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after acquiring an additional 12,241,200 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTC shares. HSBC lowered their target price on Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, January 26th. Barclays increased their target price on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Wedbush reiterated a “neutral” rating and set a $40.00 target price on shares of Intel in a research report on Friday, February 16th. Truist Financial cut their price target on Intel from $47.00 to $45.00 and set a “hold” rating for the company in a report on Friday, January 26th. Finally, Wells Fargo & Company lowered their price objective on Intel from $52.00 to $48.00 and set an “equal weight” rating for the company in a research note on Friday, January 26th. Four research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.48.

Intel Price Performance

NASDAQ:INTC traded up $1.78 during trading hours on Wednesday, hitting $43.77. 50,973,957 shares of the stock were exchanged, compared to its average volume of 45,228,254. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The firm’s fifty day moving average price is $43.98 and its 200 day moving average price is $42.01. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market cap of $185.06 billion, a P/E ratio of 112.23, a P/E/G ratio of 4.36 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, equities research analysts anticipate that Intel Co. will post 0.64 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio is presently 128.21%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were purchased 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 of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

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.