Mach 1 Financial Group LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Mach 1 Financial Group LLC cut its stake in Intel Co. (NASDAQ:INTC) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,282 shares of the chip maker’s stock after selling 5,677 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Intel were worth $919,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC raised its position in 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. Legacy Financial Group LLC purchased a new position in Intel in the third quarter valued at about $30,000. Raleigh Capital Management Inc. raised its position in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after purchasing an additional 362 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Intel during the fourth quarter valued at about $36,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Intel during the third quarter valued at about $40,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $42.74 per share, with a total value 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 $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Intel Price Performance

NASDAQ:INTC traded down $0.89 during midday trading on Tuesday, hitting $30.47. 72,176,616 shares of the stock were exchanged, compared to its average volume of 48,540,945. Intel Co. has a one year low of $26.85 and a one year high of $51.28. The company has a market capitalization of $128.83 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 2.89 and a beta of 1.00. The business has a 50-day moving average price of $40.35 and a two-hundred day moving average price of $42.23. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.64%. Intel’s payout ratio is 52.08%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wedbush lowered their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday. Bank of America lowered their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Citigroup lowered their target price on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Mizuho decreased their price target on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Finally, Evercore ISI decreased their price target on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday. Four 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.