Ledyard National Bank Has $1.29 Million Holdings in Intel Co. (NASDAQ:INTC)

Ledyard National Bank reduced its holdings in Intel Co. (NASDAQ:INTC) by 87.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,496 shares of the chip maker’s stock after selling 276,577 shares during the period. Ledyard National Bank’s holdings in Intel were worth $1,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its holdings in shares of Intel by 30.1% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 378,413 shares of the chip maker’s stock valued at $12,654,000 after purchasing an additional 87,626 shares in the last quarter. Psagot Value Holdings Ltd. Israel boosted its stake in shares of Intel by 43.7% during the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock worth $142,000 after buying an additional 1,356 shares during the last quarter. Mechanics Financial Corp grew its holdings in shares of Intel by 13.5% in the 2nd quarter. Mechanics Financial Corp now owns 8,682 shares of the chip maker’s stock valued at $290,000 after acquiring an additional 1,032 shares in the last quarter. Birchcreek Wealth Management LLC boosted its position in Intel by 5.4% during the second quarter. Birchcreek Wealth Management LLC now owns 29,512 shares of the chip maker’s stock valued at $987,000 after purchasing an additional 1,525 shares during the last quarter. Finally, MV Capital Management Inc. increased its position in shares of Intel by 7.0% during the 2nd quarter. MV Capital Management Inc. now owns 7,326 shares of the chip maker’s stock worth $245,000 after purchasing an additional 479 shares during the last quarter. 60.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 6,775 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was bought at an average cost of $36.80 per share, for a total transaction of $249,320.00. Following the completion of the transaction, the chief executive officer now directly owns 25,475 shares in the company, valued at approximately $937,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Price Performance

NASDAQ:INTC traded up $1.84 during trading hours on Thursday, hitting $42.45. The company’s stock had a trading volume of 18,607,458 shares, compared to its average volume of 41,794,891. The company has a market capitalization of $178.97 billion, a P/E ratio of -101.52, a PEG ratio of 14.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.53 and a quick ratio of 1.13. The stock has a fifty day simple moving average of $36.49 and a 200-day simple moving average of $34.15. Intel Co. has a twelve month low of $24.73 and a twelve month high of $42.59.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. During the same quarter in the previous year, the company posted $0.59 EPS. Intel’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post 0.19 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, November 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.18%. Intel’s payout ratio is -125.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their target price on shares of Intel from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Intel from $32.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, July 28th. StockNews.com initiated coverage on Intel in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. BMO Capital Markets boosted their target price on Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Finally, Wedbush upped their price objective on shares of Intel from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $35.53.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.