Western Wealth Management LLC Increases Position in Intel Co. (NASDAQ:INTC)

Western Wealth Management LLC grew its holdings in Intel Co. (NASDAQ:INTC) by 19.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,107 shares of the chip maker’s stock after acquiring an additional 6,319 shares during the quarter. Western Wealth Management LLC’s holdings in Intel were worth $1,965,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INTC. Cantor Fitzgerald Investment Advisor L.P grew its position in Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after buying an additional 342,649 shares during the period. Axiom Financial Strategies LLC grew its position in shares of Intel by 21.6% in the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after purchasing an additional 1,056 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Intel in the first quarter valued at approximately $142,000. Retirement Income Solutions Inc grew its position in shares of Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after purchasing an additional 307 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Intel by 26.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after purchasing an additional 1,244,247 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

NASDAQ:INTC traded down $0.33 during trading hours on Friday, hitting $34.71. 12,540,382 shares of the company traded hands, compared to its average volume of 46,357,781. The stock has a market capitalization of $146.75 billion, a price-to-earnings ratio of 88.85, a P/E/G ratio of 3.20 and a beta of 1.00. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. The firm has a 50-day moving average of $42.03 and a 200 day moving average of $42.30. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts forecast that Intel Co. will post 0.61 EPS for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is presently 128.21%.

Insider Buying and Selling at Intel

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial reaffirmed a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Bank of America cut their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Evercore ISI assumed coverage on shares of Intel in a research note on Tuesday. They set an “in-line” rating and a $40.00 price target on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.62.

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.