Prosperity Wealth Management Inc. Makes New Investment in Intel Co. (NASDAQ:INTC)

Prosperity Wealth Management Inc. bought a new stake in Intel Co. (NASDAQ:INTC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,823 shares of the chip maker’s stock, valued at approximately $293,000.

Several other institutional investors have also modified their holdings of INTC. Vanguard Group Inc. grew its stake in shares of Intel by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock valued at $13,548,451,000 after buying an additional 1,624,453 shares during the period. State Street Corp grew its position in Intel by 0.8% in the first quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock worth $5,858,347,000 after acquiring an additional 1,447,881 shares during the period. Primecap Management Co. CA increased its stake in Intel by 6.0% during the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after acquiring an additional 4,226,790 shares during the last quarter. Morgan Stanley raised its position in Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after purchasing an additional 12,241,200 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its holdings in shares of Intel by 100,953.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after purchasing an additional 51,083,262 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of recent analyst reports. Susquehanna reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Intel in a research report on Thursday, April 4th. Stifel Nicolaus restated a “hold” rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Bank of America dropped their target price on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. The Goldman Sachs Group upped their price target on Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, Citigroup dropped their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $42.69.

Intel Price Performance

Shares of Intel stock traded down $0.73 during trading on Wednesday, reaching $35.53. The company’s stock had a trading volume of 12,438,072 shares, compared to its average volume of 46,518,539. The business has a 50 day moving average price of $42.32 and a 200-day moving average price of $42.40. The company has a market capitalization of $150.22 billion, a P/E ratio of 92.03, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that Intel Co. will post 0.62 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is 128.21%.

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.