Adirondack Trust Co. Cuts Stake in Intel Co. (NASDAQ:INTC)

Adirondack Trust Co. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,505 shares of the chip maker’s stock after selling 1,056 shares during the quarter. Intel comprises 1.1% of Adirondack Trust Co.’s holdings, making the stock its 20th largest holding. Adirondack Trust Co.’s holdings in Intel were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC boosted its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Intel in the fourth quarter worth about $27,000. Burkett Financial Services LLC acquired a new stake in Intel in the fourth quarter worth about $27,000. Raleigh Capital Management Inc. boosted its holdings in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Intel in the fourth quarter worth about $36,000. Institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $1,108,340.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 approximately $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price 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 $1,108,340.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INTC. Wedbush reduced their price objective on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday, April 26th. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Wells Fargo & Company reduced their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. StockNews.com upgraded Intel from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, TD Cowen reduced their price target on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $39.58.

Intel Stock Down 0.3 %

INTC stock traded down $0.08 during mid-day trading on Tuesday, reaching $30.90. The company had a trading volume of 8,483,233 shares, compared to its average volume of 46,793,961. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a market capitalization of $131.54 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 14.52 and a beta of 1.06. The firm has a fifty day simple moving average of $32.08 and a 200 day simple moving average of $40.24. Intel Co. has a fifty-two week low of $29.73 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last posted 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). Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Analysts forecast that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.62%. 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.