Sheets Smith Wealth Management Has $1.12 Million Stock Position in Intel Co. (NASDAQ:INTC)

Sheets Smith Wealth Management grew its position in Intel Co. (NASDAQ:INTC) by 288.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,216 shares of the chip maker’s stock after purchasing an additional 16,499 shares during the period. Sheets Smith Wealth Management’s holdings in Intel were worth $1,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. Slow Capital Inc. increased its holdings in shares of Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares during the last quarter. Altus Wealth Group LLC grew its holdings in Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $201,000. Callan Capital LLC lifted its stake in shares of Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock worth $884,000 after buying an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its holdings in shares of Intel by 1.3% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after buying an additional 574 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction on Wednesday, May 1st. The shares were acquired 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 directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Intel Price Performance

Shares of NASDAQ:INTC traded up $0.07 during midday trading on Monday, reaching $30.85. The company’s stock had a trading volume of 20,056,358 shares, compared to its average volume of 48,256,344. The business’s fifty day simple moving average is $39.60 and its 200-day simple moving average is $42.11. The company has a market capitalization of $131.33 billion, a P/E ratio of 32.16, a P/E/G ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28.

Intel Announces Dividend

The business 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 $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

Analysts Set New Price Targets

Several research analysts recently commented on INTC shares. Mizuho dropped their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. HSBC lowered their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Citigroup reduced their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday, April 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.75.

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.