Cornerstone Wealth Management LLC Sells 2,140 Shares of Intel Co. (NASDAQ:INTC)

Cornerstone Wealth Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,544 shares of the chip maker’s stock after selling 2,140 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Intel were worth $1,703,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INTC. Barrett & Company Inc. raised its position in shares of Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after buying an additional 210 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Intel by 3.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after acquiring an additional 216 shares during the last quarter. New Millennium Group LLC raised its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in shares of Intel by 0.6% during the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after purchasing an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. increased its position in shares of Intel by 1.3% in the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after purchasing an additional 246 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on INTC. StockNews.com raised shares of Intel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Citigroup reduced 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. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Wells Fargo & Company decreased their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, April 26th. Three equities 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.58.

Intel Trading Up 0.5 %

INTC opened at $31.23 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 52 week low of $29.73 and a 52 week high of $51.28. The stock has a market cap of $132.95 billion, a PE ratio of 32.53, a PEG ratio of 14.89 and a beta of 1.05. The business has a 50 day moving average of $30.88 and a 200-day moving average of $39.20.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.60%. Intel’s payout ratio is currently 52.08%.

Insider Activity at Intel

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

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.