Brown Miller Wealth Management LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Brown Miller Wealth Management LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,378 shares of the chip maker’s stock after selling 728 shares during the period. Brown Miller Wealth Management LLC’s holdings in Intel were worth $672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC boosted its stake in Intel by 100,953.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after acquiring an additional 51,083,262 shares in the last quarter. Norges Bank purchased a new position in Intel during the 4th quarter worth approximately $1,092,939,000. Clearbridge Investments LLC grew its stake in Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after buying an additional 16,074,485 shares during the last quarter. Barclays PLC increased its position in Intel by 171.1% during the second quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock worth $715,773,000 after buying an additional 13,507,774 shares during the period. Finally, Morgan Stanley lifted its stake in Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after buying an additional 12,241,200 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Intel Stock Performance

Shares of Intel stock traded up $0.40 during trading on Thursday, hitting $44.17. 54,190,598 shares of the stock were exchanged, compared to its average volume of 45,376,137. The stock’s fifty day moving average is $43.94 and its 200 day moving average is $42.03. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The stock has a market cap of $186.75 billion, a PE ratio of 113.26, a P/E/G ratio of 4.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Intel Co. will post 0.64 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.13%. Intel’s dividend payout ratio is 128.21%.

Analyst Ratings Changes

A number of analysts have weighed in on INTC shares. The Goldman Sachs Group increased their price objective on Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Wedbush reiterated a “neutral” rating and issued a $40.00 price objective on shares of Intel in a research report on Friday, February 16th. Barclays upped their price objective on shares of Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. TD Cowen lowered their target price on shares of Intel from $45.00 to $42.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Intel in a report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.48.

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.