Axxcess Wealth Management LLC Increases Stake in Intel Co. (NASDAQ:INTC)

Axxcess Wealth Management LLC increased its stake in Intel Co. (NASDAQ:INTC) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,568 shares of the chip maker’s stock after purchasing an additional 20,868 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intel were worth $6,511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INTC. New Millennium Group LLC boosted its position in Intel by 87.2% in the 4th 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 period. Legacy Financial Group LLC acquired a new stake in shares of Intel during the third quarter worth about $30,000. Raleigh Capital Management Inc. grew its holdings in Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares during the period. Valued Wealth Advisors LLC purchased a new position in Intel during the fourth quarter worth approximately $36,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Intel during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction on Monday, April 29th. The stock was bought at an average price of $31.42 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Trading Up 1.3 %

Shares of NASDAQ INTC traded up $0.39 during trading on Friday, hitting $30.90. 36,794,828 shares of the company traded hands, compared to its average volume of 58,447,700. The company has a 50-day moving average price of $39.84 and a 200-day moving average price of $42.06. The firm has a market capitalization of $131.54 billion, a P/E ratio of 32.19, a P/E/G ratio of 9.93 and a beta of 1.09. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28.

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 paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.62%. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTC. JPMorgan Chase & Co. lowered their price objective on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group decreased their target price on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Friday, April 26th. Wedbush reduced their target price on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Truist Financial dropped their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Mizuho cut their price objective on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.75.

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.