Ropes Wealth Advisors LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Ropes Wealth Advisors LLC reduced its stake in Intel Co. (NASDAQ:INTCGet Rating) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,266 shares of the chip maker’s stock after selling 25,807 shares during the period. Ropes Wealth Advisors LLC’s holdings in Intel were worth $3,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of Intel by 0.6% in the fourth quarter. Rhumbline Advisers now owns 7,101,503 shares of the chip maker’s stock valued at $365,727,000 after acquiring an additional 42,309 shares in the last quarter. Meristem Family Wealth LLC raised its stake in Intel by 9.0% in the fourth quarter. Meristem Family Wealth LLC now owns 23,246 shares of the chip maker’s stock valued at $1,197,000 after buying an additional 1,923 shares in the last quarter. Good Life Advisors LLC raised its stake in Intel by 7.9% in the fourth quarter. Good Life Advisors LLC now owns 19,755 shares of the chip maker’s stock valued at $1,017,000 after buying an additional 1,449 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in Intel by 6.7% in the fourth quarter. Catalyst Capital Advisors LLC now owns 36,666 shares of the chip maker’s stock valued at $1,889,000 after buying an additional 2,310 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Intel by 4.0% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 388,678 shares of the chip maker’s stock valued at $20,017,000 after buying an additional 15,015 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Shares of NASDAQ:INTC traded up $0.76 during trading on Friday, hitting $43.60. 32,022,162 shares of the stock were exchanged, compared to its average volume of 36,765,636. The company has a fifty day moving average price of $46.87 and a two-hundred day moving average price of $49.04. The company has a market cap of $178.28 billion, a PE ratio of 7.24, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a current ratio of 2.13, a quick ratio of 1.73 and a debt-to-equity ratio of 0.32. Intel Co. has a 12-month low of $42.01 and a 12-month high of $58.42.

Intel (NASDAQ:INTCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The chip maker reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $18.40 billion for the quarter, compared to analyst estimates of $18.32 billion. Intel had a return on equity of 21.67% and a net margin of 31.68%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 EPS. Equities research analysts anticipate that Intel Co. will post 3.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Saturday, May 7th will be given a dividend of $0.365 per share. The ex-dividend date is Thursday, May 5th. This represents a $1.46 annualized dividend and a dividend yield of 3.35%. Intel’s dividend payout ratio is currently 24.25%.

A number of research firms have weighed in on INTC. Wedbush restated an “underperform” rating and issued a $45.00 price target on shares of Intel in a research note on Thursday, April 21st. DZ Bank cut Intel from a “buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a research note on Thursday, February 24th. Truist Financial cut their price target on Intel from $53.00 to $49.00 in a research note on Friday, April 8th. The Goldman Sachs Group set a $41.00 target price on Intel in a research report on Monday, March 28th. Finally, StockNews.com cut Intel from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 29th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $53.82.

In related news, CFO David Zinsner acquired 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was purchased at an average cost of $44.73 per share, for a total transaction of $246,015.00. Following the transaction, the chief financial officer now directly owns 8,803 shares of the company’s stock, valued at approximately $393,758.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 5,600 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was acquired at an average price of $44.27 per share, with a total value of $247,912.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 22,125 shares of company stock valued at $991,265 over the last 90 days. Insiders own 0.02% of the company’s stock.

About Intel (Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

Featured Articles

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.