I am not sure if Intel factors in the power consumption in turbo mode. I think that 130 watt is for when its at stock clock speed or it could be that the HWMonitior is simply just inaccurate most likely this.
TDP CPU Power dissipation
" Datasheets normally contain the thermal design power (TDP), which is the maximum amount of power the cooling system in a computer is required to dissipate. Both Intel and Advanced Micro Devices (AMD) have defined TDP as the maximum power consumption for thermally significant periods running worst-case non-synthetic workloads. Thus, TDP is not the actual maximum power of the processor. "