Polaris Wealth Advisory Group LLC Takes Position in Intel Co. (NASDAQ:INTC)


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Polaris Wealth Advisory Group LLC acquired a new stake in shares of Intel Co. (NASDAQ:INTC) during the first quarter, Holdings Channel reports. The fund acquired 469,076 shares of the chip maker’s stock, valued at approximately $32,019,000. Intel makes up about 2.1% of Polaris Wealth Advisory Group LLC’s investment portfolio, making the stock its 11th biggest position.

Other large investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners boosted its holdings in shares of Intel by 3.2% during the first quarter. Tennessee Valley Asset Management Partners now owns 5,017 shares of the chip maker’s stock worth $321,000 after purchasing an additional 154 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in Intel by 0.8% in the first quarter. Clear Harbor Asset Management LLC now owns 22,335 shares of the chip maker’s stock worth $1,429,000 after buying an additional 170 shares during the period. Pin Oak Investment Advisors Inc. lifted its holdings in Intel by 1.7% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 10,135 shares of the chip maker’s stock worth $505,000 after buying an additional 173 shares during the period. Global Trust Asset Management LLC lifted its holdings in Intel by 1.1% in the fourth quarter. Global Trust Asset Management LLC now owns 15,443 shares of the chip maker’s stock worth $769,000 after buying an additional 175 shares during the period. Finally, Financial Advisors LLC lifted its holdings in Intel by 0.9% in the first quarter. Financial Advisors LLC now owns 20,141 shares of the chip maker’s stock worth $1,289,000 after buying an additional 183 shares during the period. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:INTC traded down $1.53 during trading hours on Monday, reaching $63.22. The company had a trading volume of 822,836 shares, compared to its average volume of 34,990,617. The company has a current ratio of 1.66, a quick ratio of 1.24 and a debt-to-equity ratio of 0.48. Intel Co. has a 52 week low of $43.61 and a 52 week high of $68.49. The firm has a market cap of $257.45 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.63 and a beta of 0.74. The firm’s 50 day moving average price is $63.63 and its 200-day moving average price is $54.81.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Wednesday, January 20th. The chip maker reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.42. The business had revenue of $19.98 billion for the quarter, compared to analysts’ expectations of $17.47 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. During the same quarter last year, the company posted $1.52 EPS. On average, analysts forecast that Intel Co. will post 4.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 7th will be paid a dividend of $0.3475 per share. This represents a $1.39 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, May 6th. Intel’s dividend payout ratio is presently 28.54%.

In other news, CFO George S. Davis bought 9,095 shares of the stock in a transaction that occurred on Tuesday, January 26th. The shares were bought at an average price of $55.34 per share, for a total transaction of $503,317.30. Following the purchase, the chief financial officer now owns 71,223 shares in the company, valued at $3,941,480.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Holmes Swan bought 27,244 shares of the stock in a transaction that occurred on Monday, January 25th. The shares were purchased at an average price of $55.57 per share, for a total transaction of $1,513,949.08. Following the purchase, the chief executive officer now owns 330,774 shares in the company, valued at approximately $18,381,111.18. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

INTC has been the subject of several research analyst reports. Truist raised their price objective on shares of Intel from $60.00 to $64.00 in a report on Friday, January 22nd. JPMorgan Chase & Co. set a $80.00 price objective on shares of Intel and gave the stock a “buy” rating in a report on Wednesday, April 7th. Wells Fargo & Company raised their price objective on shares of Intel from $60.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 30th. Northland Securities initiated coverage on shares of Intel in a report on Wednesday, March 24th. They set a “sell” rating and a $48.00 target price for the company. Finally, Bank of America reiterated a “sell” rating and set a $62.00 target price on shares of Intel in a report on Tuesday, March 30th. Twelve investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Intel presently has an average rating of “Hold” and a consensus price target of $63.64.

Intel Company Profile

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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