Simmons Bank Sells 4,439 Shares of Intel Co. (NASDAQ:INTC)

Simmons Bank lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,209 shares of the chip maker’s stock after selling 4,439 shares during the period. Simmons Bank’s holdings in Intel were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. New Millennium Group LLC increased 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 worth $25,000 after buying an additional 231 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in Intel by 62.8% during 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 during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Intel during the fourth quarter valued at approximately $36,000. Signature Resources Capital Management LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $37,000. Finally, Bare Financial Services Inc purchased a new position in shares of Intel in the 4th quarter worth approximately $39,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Intel Stock Down 0.9 %

Shares of NASDAQ:INTC traded down $0.29 during trading hours on Tuesday, hitting $30.68. The company’s stock had a trading volume of 44,615,995 shares, compared to its average volume of 48,394,598. Intel Co. has a 52 week low of $26.85 and a 52 week 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 company has a market capitalization of $130.60 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 10.05 and a beta of 1.09. The firm’s fifty day moving average price is $39.12 and its 200 day moving average price is $42.05.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.63%. Intel’s dividend payout ratio is currently 52.08%.

Analyst Ratings Changes

Several research firms recently weighed in on INTC. Roth Mkm decreased their price target on Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Evercore ISI cut their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. Bank of America decreased their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, UBS Group upped their target price on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $39.75.

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.