Avaii Wealth Management LLC Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Avaii Wealth Management LLC reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,027 shares of the chip maker’s stock after selling 1,336 shares during the quarter. Avaii Wealth Management LLC’s holdings in Intel were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Choreo LLC raised its stake in Intel by 139.4% in the fourth quarter. Choreo LLC now owns 112,077 shares of the chip maker’s stock valued at $5,632,000 after buying an additional 65,260 shares during the last quarter. Red Wave Investments LLC purchased a new position in shares of Intel in the fourth quarter worth about $214,000. Silver Oak Securities Incorporated raised its stake in shares of Intel by 18.7% in the fourth quarter. Silver Oak Securities Incorporated now owns 28,324 shares of the chip maker’s stock worth $1,423,000 after purchasing an additional 4,457 shares during the last quarter. Meridian Wealth Partners LLC purchased a new position in shares of Intel in the fourth quarter worth about $212,000. Finally, Magnus Financial Group LLC purchased a new position in shares of Intel in the fourth quarter worth about $261,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Roth Mkm reduced their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Sanford C. Bernstein reduced their price target on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday. Citigroup reduced their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Finally, The Goldman Sachs Group dropped their price objective on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

Intel stock traded down $0.45 on Monday, reaching $31.43. 27,557,323 shares of the stock were exchanged, compared to its average volume of 47,863,094. The firm has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $42.30. The stock has a market cap of $132.89 billion, a PE ratio of 32.66, a PEG ratio of 2.89 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. Sell-side analysts anticipate that Intel Co. will post 0.6 EPS for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

Intel 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.