Insider Buying: Intel Co. (NASDAQ:INTC) CEO Purchases 4,100 Shares of Stock

Intel Co. (NASDAQ:INTC) CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Intel Price Performance

Shares of NASDAQ:INTC opened at $30.90 on Friday. The company has a market cap of $131.54 billion, a P/E ratio of 32.19, a P/E/G ratio of 9.93 and a beta of 1.09. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The business has a fifty day simple moving average of $39.60 and a 200-day simple moving average of $42.02.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Intel in the fourth quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD boosted its holdings in Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after acquiring an additional 8,140,835 shares during the last quarter. Van ECK Associates Corp boosted its holdings in 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 acquiring an additional 6,673,086 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in 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 valued at $1,376,520,000 after acquiring an additional 6,064,950 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on INTC shares. Susquehanna reduced their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Truist Financial cut their target price on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Wedbush cut their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday, April 26th. HSBC cut their target price on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Finally, Evercore ISI cut their target price on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Four 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 stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $39.75.

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.