Intel Co. (NASDAQ:INTC) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in Intel Co. (NASDAQ:INTC) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,028,313 shares of the chip maker’s stock after selling 25,312 shares during the quarter. Amalgamated Bank’s holdings in Intel were worth $51,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC grew its stake in Intel by 87.2% during the 4th 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 in the last quarter. Legacy Financial Group LLC acquired a new stake in shares of Intel during the third quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its holdings 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 acquiring an additional 362 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Intel in the fourth quarter worth $36,000. Finally, Briaud Financial Planning Inc acquired a new position in Intel in the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTC. Rosenblatt Securities reissued a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, April 26th. Wells Fargo & Company lowered their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. UBS Group boosted 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. JPMorgan Chase & Co. reduced their price objective on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday, April 26th. Finally, Susquehanna cut their price target on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.75.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by company insiders.

Intel Trading Up 0.5 %

Shares of NASDAQ INTC traded up $0.14 during trading hours on Thursday, hitting $30.51. 47,872,460 shares of the company traded hands, compared to its average volume of 48,574,871. The stock has a market capitalization of $129.88 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 8.39 and a beta of 1.09. The company’s 50 day moving average price is $40.09 and its 200 day moving average price is $42.14. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. 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 Announces Dividend

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

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.