Spire Wealth Management Purchases 6,081 Shares of Intel Co. (NASDAQ:INTC)

Spire Wealth Management raised its stake in Intel Co. (NASDAQ:INTC) by 15.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 46,487 shares of the chip maker’s stock after purchasing an additional 6,081 shares during the quarter. Spire Wealth Management’s holdings in Intel were worth $2,238,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Barrett & Company Inc. increased its position in Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after buying an additional 216 shares during the period. New Millennium Group LLC lifted its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Waldron Private Wealth LLC boosted its stake in Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. raised its position in shares of Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after acquiring an additional 246 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INTC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 26th. Citigroup cut their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Susquehanna reduced their target price on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Wedbush cut their price objective on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Wells Fargo & Company lowered their price objective on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction on Wednesday, May 1st. The shares were 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 in the company, valued at approximately $1,192,668.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of 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 owned by insiders.

Intel Stock Up 0.7 %

NASDAQ INTC traded up $0.22 during trading hours on Tuesday, hitting $31.19. The company’s stock had a trading volume of 3,843,255 shares, compared to its average volume of 47,934,406. The company has a market capitalization of $132.78 billion, a PE ratio of 32.26, a price-to-earnings-growth 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 company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $39.36 and its two-hundred day simple moving average is $42.08.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

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.