Pinnacle Wealth Management Advisory Group LLC Lowers Position in Intel Co. (NASDAQ:INTC)

Pinnacle Wealth Management Advisory Group LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,160 shares of the chip maker’s stock after selling 1,890 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Intel were worth $1,164,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. California Public Employees Retirement System grew 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 buying an additional 8,140,835 shares in the last quarter. Wellington Management Group LLP boosted 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 purchasing an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in Intel in the fourth quarter valued at $251,250,000. Parnassus Investments LLC lifted its position in Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after buying an additional 4,631,905 shares during the period. Finally, Primecap Management Co. CA grew its holdings in Intel by 6.0% in the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after buying an additional 4,226,790 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of INTC traded down $0.68 during trading hours on Wednesday, hitting $30.00. 63,662,910 shares of the company were exchanged, compared to its average volume of 48,568,035. Intel Co. has a one year low of $26.85 and a one year high of $51.28. The company has a market capitalization of $127.71 billion, a PE ratio of 31.25, a PEG ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The firm has a fifty day simple moving average of $39.12 and a 200-day simple moving average of $42.05.

Intel Announces Dividend

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

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Morgan Stanley reduced their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company reduced their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Citigroup decreased their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $39.75.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business’s 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 completion of the acquisition, the chief executive officer now 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 can be accessed through this link. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was purchased at an average cost 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 disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel 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.