Sheets Smith Wealth Management Acquires 16,499 Shares of Intel Co. (NASDAQ:INTC)

Sheets Smith Wealth Management grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 288.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,216 shares of the chip maker’s stock after acquiring an additional 16,499 shares during the quarter. 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 large investors have also recently modified their holdings of INTC. New Millennium Group LLC lifted 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 worth $25,000 after buying an additional 231 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in Intel in the fourth quarter valued at approximately $36,000. Signature Resources Capital Management LLC bought a new stake in Intel in the fourth quarter valued at approximately $37,000. Bare Financial Services Inc bought a new stake in Intel in the fourth quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. lifted its position in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after purchasing an additional 362 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Roth Mkm lowered their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Mizuho lowered their price objective on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Morgan Stanley lowered their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group lowered their price objective on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday, April 26th. Finally, Wedbush lowered their price objective on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research report on Friday, April 26th. Four research 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 stock. According to data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $39.75.

Intel Stock Up 0.2 %

INTC stock traded up $0.07 during trading on Monday, hitting $30.85. 20,056,358 shares of the stock traded hands, compared to its average volume of 48,256,344. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market cap of $131.33 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The firm’s 50 day moving average is $39.60 and its two-hundred day moving average is $42.11.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the purchase, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

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.