Summit Trail Advisors LLC Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Summit Trail Advisors LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,694 shares of the chip maker’s stock after selling 4,021 shares during the period. Summit Trail Advisors LLC’s holdings in Intel were worth $1,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC increased its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after buying an additional 362 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Intel during the fourth quarter valued at $36,000. Signature Resources Capital Management LLC bought a new position in shares of Intel during the fourth quarter valued at $37,000. Finally, Bare Financial Services Inc bought a new position in Intel during the 4th quarter valued at about $39,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Intel Stock Up 0.2 %

INTC stock traded up $0.07 during mid-day trading on Monday, hitting $30.97. The stock had a trading volume of 36,153,059 shares, compared to its average volume of 48,448,844. The stock has a market capitalization of $131.84 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 10.05 and a beta of 1.09. The company has a fifty day moving average of $39.60 and a 200 day moving average of $42.11. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28.

Intel Dividend Announcement

The business also recently disclosed 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 is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTC. Citigroup decreased their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Morgan Stanley dropped their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Barclays cut their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Bank of America dropped their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, HSBC decreased their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently 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.