Intel (NASDAQ:INTC) Trading 0.6% Higher Following Dividend Announcement

Intel Co. (NASDAQ:INTC) shares rose 0.6% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $34.97 and last traded at $34.72. Approximately 12,322,298 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 46,558,297 shares. The stock had previously closed at $34.50.

The newly announced dividend which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Ratings Changes

INTC has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday. Morgan Stanley decreased their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial decreased their price target on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Mizuho decreased their price target on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday. Finally, The Goldman Sachs Group decreased their price target on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Trading Down 9.2 %

The company has a fifty day simple moving average of $40.88 and a 200-day simple moving average of $42.23. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $134.79 billion, a PE ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Intel’s revenue was up 9.7% on a year-over-year basis. Analysts predict that Intel Co. will post 0.6 EPS for the current year.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction on Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, 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.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently bought and sold shares of INTC. New Millennium Group LLC increased its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Intel in the 4th quarter valued at about $27,000. Burkett Financial Services LLC purchased a new position in shares of Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the 1st quarter valued at about $27,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Intel in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.