Intel Co. (NASDAQ:INTC) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,893 shares of the chip maker’s stock after selling 22,566 shares during the period. Intel makes up 1.1% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. Alpha Omega Wealth Management LLC’s holdings in Intel were worth $5,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares during the last quarter. Capital International Investors grew its stake in Intel by 0.3% in the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after purchasing an additional 318,495 shares in the last quarter. Primecap Management Co. CA increased its holdings in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Norges Bank acquired a new stake in Intel during the fourth quarter valued at approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 1.2 %

Shares of Intel stock opened at $30.97 on Friday. 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 12-month low of $29.73 and a 12-month high of $51.28. The firm has a market capitalization of $131.84 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 14.76 and a beta of 1.06. The stock’s fifty day moving average is $31.08 and its 200-day moving average is $39.50.

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

Intel Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on INTC shares. TD Cowen lowered their target price on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Bank of America lowered their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Barclays cut their price target on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Mizuho lowered their price objective on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Finally, Citigroup cut their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.58.

Insiders Place Their Bets

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

Intel Company 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.