WFA Asset Management Corp Sells 13,358 Shares of Intel Co. (NASDAQ:INTC)

WFA Asset Management Corp decreased its stake in Intel Co. (NASDAQ:INTC) by 24.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,642 shares of the chip maker’s stock after selling 13,358 shares during the period. Intel comprises about 1.1% of WFA Asset Management Corp’s investment portfolio, making the stock its 13th biggest position. WFA Asset Management Corp’s holdings in Intel were worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. New Millennium Group LLC boosted its stake in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares in the last quarter. Cornerstone Planning Group LLC purchased a new stake in shares of Intel in the 2nd quarter valued at $25,000. Legacy Financial Group LLC purchased a new stake in shares of Intel in the 3rd quarter valued at $30,000. Milestone Investment Advisors LLC purchased a new stake in shares of Intel in the 1st quarter valued at $32,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Intel by 62.8% in the 3rd 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 in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of Intel stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel 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 completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTC. The Goldman Sachs Group upped their price objective on shares of Intel from $34.00 to $39.00 and gave the company a “sell” rating in a research note on Friday, January 26th. TD Cowen dropped their price target on shares of Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Truist Financial reissued a “hold” rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Raymond James dropped their price target on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.62.

Intel Stock Down 2.4 %

Shares of Intel stock traded down $0.84 during trading on Friday, hitting $34.20. The company’s stock had a trading volume of 59,070,310 shares, compared to its average volume of 48,337,516. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a fifty day simple moving average of $41.85 and a two-hundred day simple moving average of $42.29. The company has a market capitalization of $144.60 billion, a PE ratio of 87.69, a P/E/G ratio of 3.15 and a beta of 1.00. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Equities research analysts predict that Intel Co. will post 0.61 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.46%. Intel’s dividend payout ratio is currently 128.21%.

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.