SouthState Corp Has $842,000 Holdings in Intel Co. (NASDAQ:INTC)

SouthState Corp lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,749 shares of the chip maker’s stock after selling 2,519 shares during the quarter. SouthState Corp’s holdings in Intel were worth $842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Simon Quick Advisors LLC acquired a new position in shares of Intel in the third quarter valued at approximately $217,000. Stratos Wealth Advisors LLC grew its position in shares of Intel by 18.2% in the third quarter. Stratos Wealth Advisors LLC now owns 47,535 shares of the chip maker’s stock valued at $1,690,000 after purchasing an additional 7,335 shares during the last quarter. Legacy Financial Group LLC acquired a new position in shares of Intel in the third quarter valued at approximately $30,000. Horst & Graben Wealth Management LLC grew its position in shares of Intel by 9.7% in the third quarter. Horst & Graben Wealth Management LLC now owns 10,196 shares of the chip maker’s stock valued at $362,000 after purchasing an additional 904 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. grew its position in shares of Intel by 1.6% in the third quarter. Guyasuta Investment Advisors Inc. now owns 30,102 shares of the chip maker’s stock valued at $1,070,000 after purchasing an additional 473 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 1.3 %

Intel stock traded up $0.39 during trading hours on Friday, reaching $30.90. 36,731,368 shares of the company’s stock were exchanged, compared to its average volume of 48,594,387. 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’s 50 day simple moving average is $39.84 and its 200 day simple moving average is $42.06. The firm has a market capitalization of $131.54 billion, a PE ratio of 32.19, a PEG ratio of 9.88 and a beta of 1.09. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.62%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTC. Raymond James cut their price target on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Wedbush cut their price target on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday, April 26th. HSBC cut their price target on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Citigroup cut their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Finally, Wells Fargo & Company cut their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.75.

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.