Texas Capital Bank Wealth Management Services Inc Trims Holdings in Intel Co. (NASDAQ:INTC)

Texas Capital Bank Wealth Management Services Inc lowered its position in shares of Intel Co. (NASDAQ:INTCFree Report) by 59.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,733 shares of the chip maker’s stock after selling 20,504 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Intel were worth $690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. New Millennium Group LLC lifted its holdings in shares of 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 buying an additional 231 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Intel in the fourth quarter worth about $36,000. Signature Resources Capital Management LLC purchased a new stake in shares of Intel in the fourth quarter worth about $37,000. Bare Financial Services Inc bought a new position in Intel during the fourth quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. grew its holdings in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after buying an additional 362 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC stock traded down $0.20 on Friday, hitting $31.83. The company had a trading volume of 41,449,777 shares, compared to its average volume of 54,054,952. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a market cap of $135.50 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 10.49 and a beta of 1.09. The company has a 50-day moving average price of $37.00 and a 200-day moving average price of $41.75.

Intel (NASDAQ:INTCGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. As a group, equities research analysts predict that Intel Co. will post 0.13 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. Sanford C. Bernstein reduced their target price on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Truist Financial lowered their price objective on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Evercore ISI dropped their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three investment 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’s stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $39.58.

Check Out Our Latest Report on INTC

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is accessible through this link. In other news, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the purchase, 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 company insiders.

Intel Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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