Patrick M Sweeney & Associates Inc. Takes $697,000 Position in Intel Co. (NASDAQ:INTC)

Patrick M Sweeney & Associates Inc. bought a new stake in shares of Intel Co. (NASDAQ:INTC) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 13,866 shares of the chip maker’s stock, valued at approximately $697,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in shares of Intel by 1.6% in the 3rd quarter. Brown Advisory Inc. now owns 518,272 shares of the chip maker’s stock valued at $18,425,000 after acquiring an additional 8,108 shares during the period. BluePath Capital Management LLC bought a new stake in Intel in the 3rd quarter valued at $149,000. Mackenzie Financial Corp boosted its stake in Intel by 31.5% in the 3rd quarter. Mackenzie Financial Corp now owns 1,303,481 shares of the chip maker’s stock valued at $46,521,000 after purchasing an additional 312,442 shares during the period. Pennsylvania Capital Management Inc. ADV bought a new position in Intel during the 3rd quarter worth $204,000. Finally, Cambridge Trust Co. grew its holdings in shares of Intel by 14.2% during the 3rd quarter. Cambridge Trust Co. now owns 53,265 shares of the chip maker’s stock worth $1,894,000 after purchasing an additional 6,636 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.68 on Wednesday, hitting $30.00. The company’s stock had a trading volume of 61,240,531 shares, compared to its average volume of 48,554,020. The company has a 50-day simple moving average of $39.12 and a 200 day simple moving average of $42.05. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The company has a market capitalization of $127.71 billion, a PE ratio of 31.15, a PEG ratio of 10.05 and a beta of 1.09. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.67%. Intel’s payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INTC. Citigroup cut their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Sanford C. Bernstein cut their target price on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Bank of America cut their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Roth Mkm cut their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Truist Financial cut their price objective on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Four equities 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 company’s stock. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus target price 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.