SlateStone Wealth LLC Purchases 605 Shares of Intel Co. (NASDAQ:INTC)

SlateStone Wealth LLC boosted its position in shares of Intel Co. (NASDAQ:INTCGet Rating) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,233 shares of the chip maker’s stock after purchasing an additional 605 shares during the period. SlateStone Wealth LLC’s holdings in Intel were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vestmark Advisory Solutions Inc. grew its holdings in shares of Intel by 4.8% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 77,420 shares of the chip maker’s stock valued at $3,987,000 after acquiring an additional 3,565 shares in the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Intel by 0.8% in the 3rd quarter. Achmea Investment Management B.V. now owns 345,126 shares of the chip maker’s stock valued at $18,388,000 after acquiring an additional 2,862 shares in the last quarter. Trust Co. of Vermont lifted its stake in Intel by 1.9% in the 4th quarter. Trust Co. of Vermont now owns 203,023 shares of the chip maker’s stock valued at $10,456,000 after purchasing an additional 3,774 shares during the last quarter. Abundance Wealth Counselors acquired a new stake in Intel in the 4th quarter valued at about $1,958,000. Finally, Greenwood Capital Associates LLC lifted its stake in Intel by 20.0% in the 3rd quarter. Greenwood Capital Associates LLC now owns 137,733 shares of the chip maker’s stock valued at $7,339,000 after purchasing an additional 22,975 shares during the last quarter. Hedge funds and other institutional investors own 61.73% of the company’s stock.

INTC stock traded down $0.54 during trading on Friday, reaching $47.02. The stock had a trading volume of 22,138,159 shares, compared to its average volume of 33,223,648. Intel Co. has a one year low of $43.63 and a one year high of $68.49. The company has a quick ratio of 1.71, a current ratio of 2.10 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $47.92 and its two-hundred day moving average is $50.36. The company has a market capitalization of $192.25 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 1.79 and a beta of 0.55.

Intel (NASDAQ:INTCGet Rating) last released its earnings results on Wednesday, January 26th. The chip maker reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.19. Intel had a net margin of 25.14% and a return on equity of 25.52%. The firm had revenue of $19.53 billion during the quarter, compared to the consensus estimate of $18.36 billion. During the same period in the prior year, the firm earned $1.52 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Intel Co. will post 3.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Investors of record on Monday, February 7th were paid a dividend of $0.365 per share. This is a boost from Intel’s previous quarterly dividend of $0.35. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, February 4th. Intel’s dividend payout ratio is presently 30.04%.

Several brokerages have issued reports on INTC. JPMorgan Chase & Co. set a $64.00 price objective on shares of Intel in a research report on Thursday, January 27th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on shares of Intel in a research report on Friday, February 18th. Sanford C. Bernstein set a $40.00 price objective on shares of Intel in a research report on Tuesday, February 15th. Mizuho cut their price objective on shares of Intel from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, January 27th. Finally, Northland Securities upgraded shares of Intel from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research report on Wednesday, January 5th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.61.

In other Intel news, Director Omar Ishrak purchased 11,025 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were bought at an average cost of $45.11 per share, for a total transaction of $497,337.75. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger bought 5,600 shares of the stock in a transaction on Tuesday, February 22nd. The stock was purchased at an average price of $44.27 per share, for a total transaction of $247,912.00. The disclosure for this purchase can be found here. Corporate insiders own 0.02% of the company’s stock.

About Intel (Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

Further Reading

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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