Fifth Third Wealth Advisors LLC Boosts Stake in Intel Co. (NASDAQ:INTC)

Fifth Third Wealth Advisors LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 47.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,193 shares of the chip maker’s stock after buying an additional 8,407 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Intel were worth $1,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC raised its position in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Burkett Financial Services LLC bought a new stake in Intel in the 4th quarter worth $27,000. Frazier Financial Advisors LLC bought a new stake in Intel in the 4th quarter worth $27,000. Valued Wealth Advisors LLC bought a new stake in Intel in the 4th quarter worth $36,000. Finally, Signature Resources Capital Management LLC bought a new stake in Intel in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Mizuho cut their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Truist Financial cut their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company lowered their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, 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. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $39.58.

Intel Stock Performance

NASDAQ INTC traded up $0.38 during trading hours on Friday, hitting $30.97. 39,508,320 shares of the company’s stock traded hands, compared to its average volume of 46,827,625. The firm has a market capitalization of $131.84 billion, a P/E ratio of 32.47, a P/E/G ratio of 14.56 and a beta of 1.06. Intel Co. has a 52 week low of $29.73 and a 52 week high of $51.28. The business’s fifty day moving average price is $31.24 and its two-hundred day moving average price is $39.68. 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 posted its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. Equities research analysts predict that Intel Co. will post 0.09 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.61%. Intel’s payout ratio is currently 52.08%.

Insiders Place Their Bets

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

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.