Palisade Asset Management LLC Sells 405 Shares of Intel Co. (NASDAQ:INTC)

Palisade Asset Management LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,711 shares of the chip maker’s stock after selling 405 shares during the quarter. Palisade Asset Management LLC’s holdings in Intel were worth $8,829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Intel by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,407,034 shares of the chip maker’s stock valued at $1,427,453,000 after purchasing an additional 156,761 shares during the period. Northern Financial Advisors Inc increased its position in shares of Intel by 101.4% during the fourth quarter. Northern Financial Advisors Inc now owns 26,485 shares of the chip maker’s stock valued at $1,331,000 after buying an additional 13,335 shares during the period. Peregrine Asset Advisers Inc. lifted its holdings in shares of Intel by 2.0% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 25,720 shares of the chip maker’s stock worth $1,292,000 after buying an additional 500 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Intel by 15.7% in the fourth quarter. Apollon Wealth Management LLC now owns 144,689 shares of the chip maker’s stock valued at $7,271,000 after acquiring an additional 19,611 shares during the period. Finally, Lincoln National Corp grew its stake in Intel by 0.3% during the fourth quarter. Lincoln National Corp now owns 122,614 shares of the chip maker’s stock valued at $6,161,000 after acquiring an additional 412 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Intel stock traded down $0.65 during midday trading on Wednesday, reaching $30.03. 45,068,363 shares of the company traded hands, compared to its average volume of 48,332,656. The firm has a market capitalization of $127.84 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The business has a 50 day moving average of $39.12 and a two-hundred day moving average of $42.05. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28.

Intel Announces Dividend

The firm 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. This represents a $0.50 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on INTC shares. Morgan Stanley cut their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Barclays cut their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, April 26th. Wells Fargo & Company cut their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Citigroup lowered their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Four 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.