Avidian Wealth Solutions LLC Buys 3,306 Shares of Intel Co. (NASDAQ:INTC)

Avidian Wealth Solutions LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 23.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,653 shares of the chip maker’s stock after buying an additional 3,306 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Intel were worth $780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mediolanum International Funds Ltd bought a new stake in Intel during the 1st quarter valued at about $5,737,000. Larson Financial Group LLC raised its holdings in shares of Intel by 34.4% in the 1st quarter. Larson Financial Group LLC now owns 20,669 shares of the chip maker’s stock valued at $913,000 after purchasing an additional 5,295 shares in the last quarter. Callan Capital LLC raised its holdings in shares of Intel by 29.6% in the 1st quarter. Callan Capital LLC now owns 22,783 shares of the chip maker’s stock valued at $1,006,000 after purchasing an additional 5,198 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of Intel by 73.5% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,962 shares of the chip maker’s stock valued at $352,000 after purchasing an additional 3,372 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Intel by 1.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 22,506 shares of the chip maker’s stock valued at $994,000 after purchasing an additional 360 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on INTC shares. Sanford C. Bernstein reduced their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays reduced their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. TD Cowen reduced their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. StockNews.com upgraded shares of Intel from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Evercore ISI cut their price objective on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.58.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 4,000 shares of the stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. 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 bought 4,000 shares of the stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Price Performance

Shares of Intel stock traded up $0.28 during trading hours on Wednesday, reaching $34.87. 52,146,203 shares of the company’s stock were exchanged, compared to its average volume of 47,164,734. Intel Co. has a 1 year low of $29.73 and a 1 year high of $51.28. The company has a market capitalization of $148.44 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 16.20 and a beta of 1.05. The business has a fifty day moving average of $30.94 and a two-hundred day moving average of $38.76. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. As a group, research analysts predict that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

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.