Lake Street Private Wealth LLC Sells 833 Shares of Intel Co. (NASDAQ:INTC)

Lake Street Private Wealth LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,201 shares of the chip maker’s stock after selling 833 shares during the period. Lake Street Private Wealth LLC’s holdings in Intel were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC lifted its holdings 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 acquiring an additional 231 shares during the period. Burkett Financial Services LLC bought a new position in Intel in the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the first quarter worth $27,000. Finally, Valued Wealth Advisors LLC acquired a new position in Intel in the 4th quarter worth about $36,000. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intel

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday, April 26th. HSBC decreased their target price on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Friday, April 26th. Finally, StockNews.com raised Intel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.58.

Intel Price Performance

Shares of NASDAQ:INTC opened at $31.23 on Thursday. Intel Co. has a 1-year low of $29.73 and a 1-year high of $51.28. 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 business has a fifty day moving average price of $30.95 and a 200-day moving average price of $39.25. The company has a market capitalization of $132.95 billion, a PE ratio of 32.53, a PEG ratio of 14.81 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly 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). 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. As a group, equities analysts expect that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors 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 yield of 1.60%. Intel’s dividend payout ratio is currently 52.08%.

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.