First Horizon Advisors Inc. Sells 3,885 Shares of Intel Co. (NASDAQ:INTC)

First Horizon Advisors Inc. lowered its position in Intel Co. (NASDAQ:INTC) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 84,598 shares of the chip maker’s stock after selling 3,885 shares during the quarter. First Horizon Advisors Inc.’s holdings in Intel were worth $4,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Slow Capital Inc. raised its stake in shares of Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after acquiring an additional 508 shares during the last quarter. Altus Wealth Group LLC raised its position in shares of Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after acquiring an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC acquired a new position in shares of Intel during the fourth quarter valued at $201,000. Callan Capital LLC boosted its holdings in Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after acquiring an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its position in Intel by 1.3% in the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after purchasing an additional 574 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 26th. Susquehanna dropped their target price on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. reduced their price target on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company dropped their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Evercore ISI cut their target price on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.75.

Intel Stock Up 1.3 %

INTC stock traded up $0.39 during mid-day trading on Friday, reaching $30.90. The company had a trading volume of 36,731,368 shares, compared to its average volume of 48,594,387. The company has a market capitalization of $131.54 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 9.88 and a beta of 1.09. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The stock has a 50 day simple moving average of $39.84 and a two-hundred day simple moving average of $42.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Intel Profile

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.