Moss Adams Wealth Advisors LLC Sells 1,744 Shares of Intel Co. (NASDAQ:INTC)

Moss Adams Wealth Advisors LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 26.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,948 shares of the chip maker’s stock after selling 1,744 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Intel were worth $249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC raised its stake in shares of Intel by 87.2% in the fourth 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 last quarter. Valued Wealth Advisors LLC purchased a new position in Intel in the 4th quarter worth about $36,000. Signature Resources Capital Management LLC bought a new position in Intel during the 4th quarter valued at about $37,000. Bare Financial Services Inc purchased a new stake in shares of Intel during the 4th quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares during the period. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of a number of research analyst reports. TD Cowen lowered their price objective on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company cut their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Citigroup dropped their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. 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 research report on Friday, April 26th. Finally, Raymond James dropped their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Trading Down 2.2 %

INTC stock traded down $0.68 during midday trading on Wednesday, reaching $30.00. 63,662,910 shares of the company traded hands, compared to its average volume of 48,568,035. The firm has a market capitalization of $127.71 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 10.05 and a beta of 1.09. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The business has a 50 day moving average of $39.12 and a 200-day moving average of $42.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

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

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.