Naviter Wealth LLC Acquires 4,711 Shares of Intel Co. (NASDAQ:INTC)

Naviter Wealth LLC grew its position in Intel Co. (NASDAQ:INTC) by 16.5% during the 1st quarter, HoldingsChannel reports. The firm owned 33,336 shares of the chip maker’s stock after purchasing an additional 4,711 shares during the quarter. Naviter Wealth LLC’s holdings in Intel were worth $1,472,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INTC. Norges Bank acquired a new stake in Intel in the fourth quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 acquiring an additional 31,575,084 shares during the period. California Public Employees Retirement System raised its holdings in shares of Intel by 102.6% during 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 acquiring an additional 8,140,835 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Intel during the fourth quarter worth $251,250,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Intel Price Performance

Shares of NASDAQ:INTC opened at $31.07 on Wednesday. The firm has a 50 day moving average of $31.01 and a 200-day moving average of $39.36. The stock has a market capitalization of $132.26 billion, a PE ratio of 32.36, a PEG ratio of 14.76 and a beta of 1.05. 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 Co. has a 12 month low of $29.73 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $12.72 billion during 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%. On average, equities research analysts predict that Intel Co. will post 0.09 EPS for the current fiscal 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 given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is 52.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INTC shares. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, April 26th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, April 26th. Barclays lowered their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Finally, Wedbush lowered their price target on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Three 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, the stock presently has an average rating of “Hold” and an average target price of $39.58.

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.