Intel Co. (NASDAQ:INTC) CEO Purchases $125,680.00 in Stock

Intel Co. (NASDAQ:INTC) CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Intel Price Performance

Shares of NASDAQ:INTC opened at $30.90 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a market capitalization of $131.54 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 9.88 and a beta of 1.09. The stock has a fifty day moving average of $39.84 and a 200-day moving average of $42.06. Intel Co. has a one year low of $26.85 and a one year high of $51.28.

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 given a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. Intel’s dividend payout ratio (DPR) is 52.08%.

Hedge Funds Weigh In On Intel

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Intel in the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD grew its position in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System raised its stake in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Intel by 44.8% in the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after purchasing an additional 6,673,086 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Intel by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after buying an additional 6,064,950 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INTC. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Citigroup dropped their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Susquehanna dropped their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.75.

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.