Intel Co. (NASDAQ:INTC) Holdings Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,952 shares of the chip maker’s stock after selling 10,081 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intel were worth $13,012,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. New Millennium Group LLC raised its stake in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in Intel during the second quarter valued at approximately $25,000. Legacy Financial Group LLC acquired a new stake in Intel in the third quarter valued at approximately $30,000. Milestone Investment Advisors LLC bought a new stake in Intel in the first quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after purchasing an additional 362 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Intel Trading Up 1.7 %

INTC stock opened at $36.31 on Tuesday. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $42.45 and its 200-day moving average is $42.39. The firm has a market cap of $153.52 billion, a P/E ratio of 93.10, a P/E/G ratio of 3.16 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. Equities analysts anticipate that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.38%. Intel’s dividend payout ratio (DPR) is presently 128.21%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INTC. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 26th. Raymond James lowered their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Bank of America reduced their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday. Truist Financial reiterated a “hold” rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Citigroup reduced their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.69.

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.