Adell Harriman & Carpenter Inc. Has $1.79 Million Stake in Intel Co. (NASDAQ:INTC)

Adell Harriman & Carpenter Inc. reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,550 shares of the chip maker’s stock after selling 1,985 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Intel were worth $1,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Intel by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock worth $13,548,451,000 after buying an additional 1,624,453 shares during the period. Primecap Management Co. CA lifted its position in Intel by 6.0% in the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after acquiring an additional 4,226,790 shares in the last quarter. Northern Trust Corp boosted its position in shares of Intel by 3.7% during the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after buying an additional 1,626,127 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Intel by 18.6% during the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after buying an additional 6,064,950 shares in the last quarter. Finally, Invesco Ltd. raised its position in Intel by 13.4% in the 3rd quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock valued at $1,272,266,000 after buying an additional 4,222,381 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Down 1.0 %

Intel stock traded down $0.31 during trading hours on Tuesday, reaching $31.05. 14,538,009 shares of the company’s stock were exchanged, compared to its average volume of 47,836,488. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. 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 $40.63 and its 200 day simple moving average is $42.27. The firm has a market capitalization of $131.28 billion, a PE ratio of 32.67, a PEG ratio of 2.89 and a beta of 1.00.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on INTC shares. Roth Mkm dropped their price target on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their price target on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. Raymond James reduced their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Four equities 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 company. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $39.75.

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.