Plimoth Trust Co. LLC Has $4.11 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Plimoth Trust Co. LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,995 shares of the chip maker’s stock after selling 1,797 shares during the period. Intel accounts for about 1.1% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 28th biggest holding. Plimoth Trust Co. LLC’s holdings in Intel were worth $4,108,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in INTC. Trexquant Investment LP acquired a new position in Intel during the 3rd quarter worth about $1,496,000. Gotham Asset Management LLC raised its holdings in Intel by 19.0% during the 3rd quarter. Gotham Asset Management LLC now owns 64,938 shares of the chip maker’s stock worth $2,309,000 after purchasing an additional 10,388 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Intel by 301.9% during the 3rd quarter. Lazard Asset Management LLC now owns 361,607 shares of the chip maker’s stock valued at $12,853,000 after acquiring an additional 271,640 shares during the last quarter. Truist Financial Corp lifted its stake in Intel by 5.5% in the third quarter. Truist Financial Corp now owns 1,544,003 shares of the chip maker’s stock valued at $54,889,000 after buying an additional 80,092 shares during the period. Finally, First National Bank of Omaha boosted its stake in Intel by 21.1% during the 3rd quarter. First National Bank of Omaha now owns 7,473 shares of the chip maker’s stock worth $266,000 after acquiring an additional 1,304 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. Jefferies Financial Group assumed coverage on Intel in a research report on Monday, May 13th. They issued a “hold” rating and a $34.00 target price on the stock. Evercore ISI cut their price target on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. UBS Group boosted their target price on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Truist Financial lowered their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.58.

Insider Activity

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

Intel Price Performance

Intel stock opened at $31.07 on Wednesday. Intel Co. has a one year low of $29.73 and a one year high of $51.28. The company has a market cap of $132.26 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 14.76 and a beta of 1.05. The business has a fifty day moving average of $31.01 and a two-hundred day moving average of $39.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $12.72 billion during 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%. As a group, analysts predict that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Announces Dividend

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