Provence Wealth Management Group Raises Position in Intel Co. (NASDAQ:INTC)

Provence Wealth Management Group lifted its stake in Intel Co. (NASDAQ:INTC) by 18.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,773 shares of the chip maker’s stock after purchasing an additional 2,032 shares during the period. Provence Wealth Management Group’s holdings in Intel were worth $642,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INTC. Simon Quick Advisors LLC purchased a new position in shares of Intel in the third quarter valued at $217,000. Stratos Wealth Advisors LLC raised its position in shares of Intel by 18.2% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 47,535 shares of the chip maker’s stock valued at $1,690,000 after buying an additional 7,335 shares in the last quarter. Legacy Financial Group LLC bought a new position in shares of Intel in the 3rd quarter valued at about $30,000. Horst & Graben Wealth Management LLC grew its position in Intel by 9.7% in the third quarter. Horst & Graben Wealth Management LLC now owns 10,196 shares of the chip maker’s stock worth $362,000 after acquiring an additional 904 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its stake in Intel by 1.6% during the third quarter. Guyasuta Investment Advisors Inc. now owns 30,102 shares of the chip maker’s stock worth $1,070,000 after acquiring an additional 473 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Up 1.3 %

NASDAQ:INTC traded up $0.39 during midday trading on Friday, reaching $30.90. 36,794,828 shares of the stock traded hands, compared to its average volume of 58,447,700. The stock has a market capitalization of $131.54 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The business has a 50-day moving average of $39.60 and a two-hundred day moving average of $42.02.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

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

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Evercore ISI lowered their target price on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Truist Financial cut their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.75.

Intel Company 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.