Alpha Omega Wealth Management LLC Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Alpha Omega Wealth Management LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 16.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,459 shares of the chip maker’s stock after selling 31,115 shares during the period. Intel makes up 1.3% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Alpha Omega Wealth Management LLC’s holdings in Intel were worth $7,762,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of INTC. Moneta Group Investment Advisors LLC increased its holdings in Intel by 100,953.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after acquiring an additional 51,083,262 shares during the last quarter. Norges Bank bought a new position in Intel during the 4th quarter valued at about $1,092,939,000. Clearbridge Investments LLC grew its holdings in Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock valued at $814,727,000 after purchasing an additional 16,074,485 shares during the last quarter. Barclays PLC grew its holdings in Intel by 171.1% during the 2nd quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock valued at $715,773,000 after purchasing an additional 13,507,774 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Intel by 29.8% during the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after purchasing an additional 12,241,200 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on INTC. Wells Fargo & Company lowered their price objective on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Truist Financial reissued a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Barclays upped their price target on shares of Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Evercore ISI started coverage on shares of Intel in a report on Tuesday. They issued an “in-line” rating and a $40.00 price objective for the company. Finally, UBS Group lifted their target price 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. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.69.

Insiders Place Their Bets

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

Intel Stock Down 1.3 %

Shares of Intel stock traded down $0.46 during trading hours on Wednesday, hitting $35.80. The company had a trading volume of 17,887,671 shares, compared to its average volume of 46,593,965. The company’s 50-day moving average is $42.32 and its two-hundred day moving average is $42.40. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The company has a market cap of $151.36 billion, a P/E ratio of 92.03, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts anticipate that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.40%. Intel’s payout ratio is currently 128.21%.

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.