Marcum Wealth LLC Sells 799 Shares of Intel Co. (NASDAQ:INTC)

Marcum Wealth LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,875 shares of the chip maker’s stock after selling 799 shares during the period. Marcum Wealth LLC’s holdings in Intel were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Intel in the fourth quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 543.5% in the fourth 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 raised its holdings in shares of Intel by 102.6% in the fourth 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 raised its holdings in shares of Intel by 17.8% in the third 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 purchased a new stake in shares of Intel in the fourth quarter valued at about $251,250,000. 64.53% of the stock is owned by institutional investors.

Intel Trading Up 1.5 %

Shares of Intel stock opened at $31.09 on Friday. Intel Co. has a 1 year low of $29.73 and a 1 year high of $51.28. The firm has a market cap of $132.35 billion, a PE ratio of 32.39, a PEG ratio of 14.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a 50 day simple moving average of $31.57 and a two-hundred day simple moving average of $39.94.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Analysts expect that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.61%. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Sanford C. Bernstein decreased their price objective 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. Barclays decreased their price objective on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. HSBC decreased their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Truist Financial decreased their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Jefferies Financial Group initiated coverage on shares of Intel in a report on Monday, May 13th. They set a “hold” rating and a $34.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.58.

Intel Profile

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.