Avantax Advisory Services Inc. Has $8.95 Million Stock Position in Intel Co. (NASDAQ:INTC)

Avantax Advisory Services Inc. lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,595 shares of the chip maker’s stock after selling 4,377 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Intel were worth $8,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Intel in the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD increased its position in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after acquiring an additional 6,673,086 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of Intel during the 4th quarter valued at about $251,250,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 1.3 %

Shares of INTC traded up $0.44 during trading hours on Wednesday, hitting $34.78. 75,126,242 shares of the stock traded hands, compared to its average volume of 47,353,766. The business has a fifty day moving average of $31.31 and a 200-day moving average of $38.21. The firm has a market capitalization of $148.06 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 17.88 and a beta of 1.05. Intel Co. has a 1-year low of $29.73 and a 1-year high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. Analysts expect that Intel Co. will post 0.08 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.44%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INTC shares. Truist Financial decreased their target price on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Jefferies Financial Group initiated coverage on shares of Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 target price on the stock. Stifel Nicolaus reissued a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Wedbush lowered their price target on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Barclays cut their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $39.25.

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.