Montis Financial LLC Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Montis Financial LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 25.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,866 shares of the chip maker’s stock after selling 2,400 shares during the period. Montis Financial LLC’s holdings in Intel were worth $345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Intel by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after acquiring an additional 6,064,950 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Intel during the fourth quarter worth approximately $251,250,000. Finally, Parnassus Investments LLC raised 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 valued at $830,773,000 after purchasing an additional 4,631,905 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the topic of several recent research reports. Susquehanna lowered their target price on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Evercore ISI lowered their target price on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group dropped their target price on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a report on Friday, April 26th. UBS Group boosted their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

NASDAQ:INTC traded up $0.14 during mid-day trading on Thursday, reaching $30.51. The stock had a trading volume of 48,221,621 shares, compared to its average volume of 48,702,656. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The business has a 50 day simple moving average of $40.09 and a 200 day simple moving average of $42.14. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The firm has a market capitalization of $129.88 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 8.39 and a beta of 1.09.

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 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 is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

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.