SouthState Corp Cuts Position in Intel Co. (NASDAQ:INTC)

SouthState Corp trimmed its position in Intel Co. (NASDAQ:INTC) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,749 shares of the chip maker’s stock after selling 2,519 shares during the quarter. SouthState Corp’s holdings in Intel were worth $842,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of INTC. Slow Capital Inc. raised its holdings in shares of Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after buying an additional 508 shares during the period. Altus Wealth Group LLC raised its holdings in shares of Intel by 29.4% during the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after buying an additional 5,759 shares during the period. Alera Investment Advisors LLC purchased a new stake in shares of Intel during the 4th quarter valued at about $201,000. Callan Capital LLC increased its holdings in Intel by 9.1% during the 4th quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock worth $884,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its holdings in Intel by 1.3% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after purchasing an additional 574 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Up 1.3 %

Shares of NASDAQ INTC traded up $0.39 during mid-day trading on Friday, hitting $30.90. 36,731,368 shares of the company traded hands, compared to its average volume of 48,594,387. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The stock has a market capitalization of $131.54 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 9.88 and a beta of 1.09. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $39.84 and a two-hundred day moving average of $42.06.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on INTC shares. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, April 26th. Mizuho dropped their price objective on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Barclays dropped their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group dropped their price objective on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus price target of $39.75.

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.