Exchange Capital Management Inc. Sells 1,049 Shares of Intel Co. (NASDAQ:INTC)

Exchange Capital Management Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,604 shares of the chip maker’s stock after selling 1,049 shares during the quarter. Exchange Capital Management Inc.’s holdings in Intel were worth $601,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in Intel by 5.6% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 17,488 shares of the chip maker’s stock valued at $772,000 after purchasing an additional 932 shares during the period. Tributary Capital Management LLC acquired a new stake in Intel during the first quarter worth approximately $27,000. Steele Capital Management Inc. increased its stake in Intel by 5.8% during the 1st quarter. Steele Capital Management Inc. now owns 8,792 shares of the chip maker’s stock worth $388,000 after acquiring an additional 483 shares during the period. AlphaMark Advisors LLC raised its holdings in Intel by 39.4% in the 1st quarter. AlphaMark Advisors LLC now owns 3,537 shares of the chip maker’s stock valued at $156,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Dominguez Wealth Management Solutions Inc. raised its holdings in Intel by 1.2% in the 1st quarter. Dominguez Wealth Management Solutions Inc. now owns 51,070 shares of the chip maker’s stock valued at $2,256,000 after acquiring an additional 630 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Trading Up 0.7 %

Shares of INTC stock opened at $31.07 on Wednesday. The company has a market cap of $132.26 billion, a P/E ratio of 32.36, a PEG ratio of 14.76 and a beta of 1.05. Intel Co. has a fifty-two week low of $29.73 and a fifty-two week high of $51.28. The stock has a 50 day simple moving average of $31.01 and a two-hundred day simple 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 released its 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 company 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%. Research analysts forecast that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors 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 yield of 1.61%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction on 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 transaction, the chief executive officer now 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 Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now owns 39,375 shares in the company, 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTC. UBS Group raised their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. StockNews.com upgraded shares of Intel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Barclays lowered their price objective on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, The Goldman Sachs Group reduced their target price on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.58.

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.