Opes Wealth Management LLC Sells 379 Shares of Intel Co. (NASDAQ:INTC)

Opes Wealth Management LLC reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,258 shares of the chip maker’s stock after selling 379 shares during the period. Opes Wealth Management LLC’s holdings in Intel were worth $666,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in INTC. Barrett & Company Inc. grew its stake in shares of Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after buying an additional 210 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after buying an additional 216 shares in the last quarter. New Millennium Group LLC grew its stake in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares in the last quarter. Waldron Private Wealth LLC grew its stake in shares of Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after buying an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. grew its stake in shares of Intel by 1.3% in the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after buying an additional 246 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. The Goldman Sachs Group lifted their price objective on shares of Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Susquehanna reduced their price objective on shares of Intel from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $42.62.

Intel Price Performance

INTC stock traded down $0.64 during midday trading on Thursday, reaching $35.04. The company had a trading volume of 42,276,421 shares, compared to its average volume of 46,860,035. The company has a market capitalization of $148.15 billion, a price-to-earnings ratio of 89.75, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The stock has a 50 day moving average price of $42.18 and a 200-day moving average price of $42.35. Intel Co. has a 1-year low of $26.85 and a 1-year 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.

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

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio is presently 128.21%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel 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.