Ridgewood Investments LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,459 shares of the chip maker’s stock after purchasing an additional 9,250 shares during the period. Intel accounts for 0.9% of Ridgewood Investments LLC’s portfolio, making the stock its 24th biggest position. Ridgewood Investments LLC’s holdings in Intel were worth $1,281,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after acquiring an additional 342,649 shares during the last quarter. Axiom Financial Strategies LLC grew its position in shares of Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after acquiring an additional 1,056 shares during the last quarter. Fairfield Bush & CO. bought a new position in shares of Intel during the first quarter worth about $142,000. Retirement Income Solutions Inc grew its position in shares of Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after acquiring an additional 307 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after acquiring an additional 1,244,247 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on INTC. Sanford C. Bernstein set a $20.00 price target on shares of Intel in a research report on Friday, January 27th. Morgan Stanley upgraded shares of Intel from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $29.50 to $28.00 in a research report on Thursday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Intel in a research report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Intel from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, January 27th. Finally, Truist Financial decreased their target price on shares of Intel from $33.00 to $29.00 in a research report on Friday, January 27th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.48.
Intel Stock Up 1.1 %
Shares of Intel stock traded up $0.33 on Friday, hitting $29.36. 55,931,606 shares of the company traded hands, compared to its average volume of 49,109,760. The company has a 50-day moving average price of $28.00 and a 200 day moving average price of $28.03. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.36. Intel Co. has a 12-month low of $24.59 and a 12-month high of $52.51. The company has a market cap of $121.46 billion, a PE ratio of 14.98, a PEG ratio of 9.27 and a beta of 0.81.
Intel (NASDAQ:INTC – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a net margin of 12.71% and a return on equity of 7.45%. The company had revenue of $14.04 billion for the quarter, compared to analysts’ expectations of $14.49 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The company’s revenue was down 31.6% on a year-over-year basis. Sell-side analysts predict that Intel Co. will post 0.55 earnings per share for the current year.
Intel Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, May 4th. Intel’s dividend payout ratio is presently 74.49%.
Insider Buying and Selling
In other Intel news, CFO David Zinsner acquired 1,800 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The stock was purchased at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the acquisition, the chief financial officer now owns 17,450 shares of the company’s stock, valued at approximately $486,680.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger purchased 9,700 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was bought at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the acquisition, the chief executive officer now directly owns 18,700 shares of the company’s stock, valued at $480,216. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Zinsner purchased 1,800 shares of the firm’s stock in a transaction on Monday, January 30th. The shares were purchased at an average price of $27.89 per share, with a total value of $50,202.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,450 shares of the company’s stock, valued at $486,680.50. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 20,500 shares of company stock worth $549,768. Corporate insiders own 0.02% of the company’s stock.
About Intel
Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.