AXS Investments LLC Lowers Position in Intel Co. (NASDAQ:INTC)

AXS Investments LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,469 shares of the chip maker’s stock after selling 7,538 shares during the quarter. AXS Investments LLC’s holdings in Intel were worth $1,531,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Intel by 0.4% during the third quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock worth $13,548,451,000 after buying an additional 1,624,453 shares during the period. Primecap Management Co. CA boosted its position in shares of Intel by 6.0% in the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after buying an additional 4,226,790 shares during the period. Norges Bank purchased a new position in Intel in the fourth quarter valued at about $2,424,202,000. Northern Trust Corp raised its stake in Intel by 3.7% during the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after buying an additional 1,626,127 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Intel by 13.4% during the 3rd quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock worth $1,272,266,000 after purchasing an additional 4,222,381 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on INTC. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, April 26th. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. UBS Group increased their price target on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, Wedbush cut their price target on 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 assigned a buy rating to the stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $39.58.

Insider Buying and Selling

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

Intel Stock Performance

INTC traded down $1.34 during trading on Thursday, reaching $30.08. 61,707,168 shares of the company’s stock were exchanged, compared to its average volume of 47,955,422. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. 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 stock has a market capitalization of $128.05 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 15.25 and a beta of 1.09. The company’s fifty day simple moving average is $36.24 and its 200-day simple moving average is $41.66.

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

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is presently 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.