Wealthspire Advisors LLC Cuts Position in Intel Co. (NASDAQ:INTC)

Wealthspire Advisors LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,754 shares of the chip maker’s stock after selling 2,500 shares during the period. Wealthspire Advisors LLC’s holdings in Intel were worth $3,169,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC grew its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in Intel in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC bought a new stake in Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel during the first quarter valued at approximately $27,000. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after purchasing an additional 362 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on INTC shares. Jefferies Financial Group assumed coverage on shares of Intel in a research report on Monday, May 13th. They set a “hold” rating and a $34.00 price target for the company. HSBC lowered their price target on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. StockNews.com upgraded Intel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Finally, Morgan Stanley cut their price target on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $39.58.

Insider Activity

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

NASDAQ INTC traded up $0.99 during trading hours on Friday, hitting $34.49. 62,792,646 shares of the company’s stock traded hands, compared to its average volume of 41,593,896. Intel Co. has a 52 week low of $29.73 and a 52 week high of $51.28. The firm has a market capitalization of $146.82 billion, a P/E ratio of 35.93, a P/E/G ratio of 15.97 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $31.16 and its two-hundred day moving average price is $38.60.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. Equities research analysts predict that Intel Co. will post 0.09 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Intel Company 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.