Avaii Wealth Management LLC Boosts Stake in Intel Co. (NASDAQ:INTC)

Avaii Wealth Management LLC boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 36.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,750 shares of the chip maker’s stock after acquiring an additional 2,873 shares during the period. Avaii Wealth Management LLC’s holdings in Intel were worth $252,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tributary Capital Management LLC acquired a new stake in shares of Intel in the first quarter valued at approximately $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Intel during the first quarter worth about $36,000. America First Investment Advisors LLC purchased a new position in Intel during the second quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the 2nd quarter valued at about $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Intel in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

INTC traded up $0.28 on Thursday, reaching $22.59. The company had a trading volume of 16,030,777 shares, compared to its average volume of 58,788,652. The stock has a 50-day moving average price of $21.30 and a 200-day moving average price of $28.33. The stock has a market capitalization of $96.17 billion, a PE ratio of 23.39 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.21%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INTC. Benchmark reiterated a “hold” rating on shares of Intel in a report on Monday, September 23rd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Barclays dropped their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.96.

About Intel

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.