Mogy Joel R Investment Counsel Inc. Cuts Stake in Intel Co. (NASDAQ:INTC)

Mogy Joel R Investment Counsel Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 3.8% during the fourth quarter, HoldingsChannel reports. The fund owned 35,708 shares of the chip maker’s stock after selling 1,400 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Intel were worth $1,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INTC. Barrett & Company Inc. increased its holdings 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 purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC increased its holdings 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 purchasing an additional 216 shares during the period. New Millennium Group LLC increased its holdings 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 purchasing an additional 231 shares during the period. Waldron Private Wealth LLC increased its holdings 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 purchasing an additional 232 shares during the period. Finally, Spreng Capital Management Inc. grew its holdings in Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after acquiring an additional 246 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly 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. 0.04% of the stock is currently owned by company insiders.

Intel Trading Down 9.2 %

Intel stock traded down $3.23 during trading on Friday, reaching $31.88. 119,742,494 shares of the company were exchanged, compared to its average volume of 50,613,192. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $40.88 and its two-hundred day simple moving average is $42.23.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that Intel Co. will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on INTC. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. UBS Group raised their target price on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Evercore ISI dropped their target price on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their target price on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Raymond James dropped their target price on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.75.

Intel Company 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.