Montecito Bank & Trust Sells 534 Shares of Intel Co. (NASDAQ:INTC)

Montecito Bank & Trust lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,399 shares of the chip maker’s stock after selling 534 shares during the period. Montecito Bank & Trust’s holdings in Intel were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in INTC. Norges Bank bought a new position in shares of Intel during the 4th quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of Intel in the 4th quarter valued at about $251,250,000. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of a number of analyst reports. StockNews.com raised shares of Intel from a “sell” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein lowered their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, April 26th. TD Cowen lowered their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.58.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction 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 owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction 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 owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $30.62 on Friday. The firm has a market cap of $130.35 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 14.60 and a beta of 1.06. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The company’s 50 day moving average is $31.66 and its 200 day moving average is $40.02.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. On average, sell-side analysts anticipate that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 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.