Axxcess Wealth Management LLC Acquires 24,596 Shares of Intel Co. (NASDAQ:INTC)

Axxcess Wealth Management LLC raised its holdings in Intel Co. (NASDAQ:INTC) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,626 shares of the chip maker’s stock after acquiring an additional 24,596 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intel were worth $5,160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors grew its stake in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Intel by 7.3% in the fourth quarter. Wellington Management Group LLP now owns 37,080,015 shares of the chip maker’s stock valued at $1,863,271,000 after purchasing an additional 2,515,978 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on INTC shares. The Goldman Sachs Group reduced their price objective on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Susquehanna dropped their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Finally, Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $32.04.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of Intel stock opened at $21.47 on Wednesday. The firm has a market capitalization of $91.40 billion, a P/E ratio of 22.36 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week 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. The company has a 50 day moving average price of $24.45 and a 200 day moving average price of $31.29.

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

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.33%. Intel’s payout ratio is presently 52.08%.

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.