Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 122,605 shares of the chip maker’s stock after selling 1,890 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Intel were worth $6,161,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CX Institutional increased its holdings in shares of Intel by 13.4% during the third quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock valued at $746,000 after acquiring an additional 2,474 shares in the last quarter. Simplicity Solutions LLC increased its holdings in shares of Intel by 45.5% during the third quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock valued at $3,946,000 after acquiring an additional 34,739 shares in the last quarter. Connecticut Wealth Management LLC increased its holdings in Intel by 7.3% in the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after buying an additional 872 shares during the period. Ballentine Partners LLC increased its holdings in Intel by 5.6% in the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock worth $1,895,000 after buying an additional 2,806 shares during the period. Finally, TFG Advisers LLC increased its holdings in Intel by 2.8% in the 3rd quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock worth $516,000 after buying an additional 391 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Roth Mkm cut their price target on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday. Barclays cut their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America cut their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.75.

Intel Price Performance

INTC stock traded down $3.23 during midday trading on Friday, reaching $31.88. The stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. The company’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $42.23. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. As a group, sell-side analysts predict that Intel Co. will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insiders Place Their Bets

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

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.