Procyon Advisors LLC Purchases 1,190 Shares of Intel Co. (NASDAQ:INTC)

Procyon Advisors LLC boosted its position in Intel Co. (NASDAQ:INTC) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 59,570 shares of the chip maker’s stock after buying an additional 1,190 shares during the period. Procyon Advisors LLC’s holdings in Intel were worth $2,993,000 as of its most recent SEC filing.

A number of other large investors 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 valued at $25,000 after purchasing an additional 231 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in shares of Intel in the second quarter valued at approximately $25,000. Legacy Financial Group LLC bought a new position in shares of Intel in the third quarter valued at approximately $30,000. Milestone Investment Advisors LLC bought a new stake in Intel during the first quarter worth $32,000. Finally, Raleigh Capital Management Inc. lifted its holdings 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 period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.63 during mid-day trading on Thursday, hitting $44.40. The company had a trading volume of 9,326,391 shares, compared to its average volume of 44,581,488. The company has a market capitalization of $187.72 billion, a price-to-earnings ratio of 113.28, a P/E/G ratio of 4.38 and a beta of 1.00. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $43.98 and its 200-day moving average price is $42.01.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that Intel Co. will post 0.64 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio is 128.21%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of recent analyst reports. Mizuho dropped their price target on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Truist Financial dropped their price target on Intel from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, January 26th. Wedbush reiterated a “neutral” rating and set a $40.00 price target on shares of Intel in a report on Friday, February 16th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, January 26th. Finally, Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $32.00 to $50.00 in a report on Friday, December 15th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $41.48.

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.