Intel Co. (NASDAQ:INTC) Stake Lowered by Argyle Capital Management Inc.

Argyle Capital Management Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 16.0% in the fourth quarter, Holdings Channel reports. The fund owned 100,003 shares of the chip maker’s stock after selling 19,050 shares during the quarter. Intel accounts for approximately 2.1% of Argyle Capital Management Inc.’s portfolio, making the stock its 9th largest position. Argyle Capital Management Inc.’s holdings in Intel were worth $5,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. New Millennium Group LLC boosted its holdings in shares of Intel by 87.2% in the 4th 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. Legacy Financial Group LLC acquired a new position in shares of Intel during the third quarter worth $30,000. Raleigh Capital Management Inc. boosted its position in shares of Intel by 62.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after purchasing an additional 362 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Intel during the 4th quarter worth $36,000. Finally, Briaud Financial Planning Inc acquired a new position in Intel during the 3rd quarter valued at about $40,000. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INTC shares. Roth Mkm lowered their price target on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Friday. Susquehanna cut their price target on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial lowered their price target on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday. Finally, Barclays cut their price objective on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday. Four equities 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.75.

Insiders Place Their Bets

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

Intel Price Performance

Shares of NASDAQ INTC traded down $3.23 during midday trading on Friday, hitting $31.88. The stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $40.88 and a 200-day simple moving average of $42.30. The company has a market capitalization of $134.79 billion, a PE ratio of 33.21, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. On average, sell-side analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.57%. 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.