Lincoln National Corp Increases Stake in Intel Co. (NASDAQ:INTC)

Lincoln National Corp raised its stake in shares of Intel Co. (NASDAQ:INTC) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 122,614 shares of the chip maker’s stock after buying an additional 412 shares during the quarter. Lincoln National Corp’s holdings in Intel were worth $6,161,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of Intel by 102.6% during 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 buying an additional 8,140,835 shares during the period. Wellington Management Group LLP raised its stake in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after buying an additional 5,217,549 shares during the period. Alecta Tjanstepension Omsesidigt bought a new position in shares of Intel in the fourth quarter worth about $251,250,000. Parnassus Investments LLC raised its stake in shares of Intel by 24.7% in the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after buying an additional 4,631,905 shares during the period. Finally, Primecap Management Co. CA raised its stake in Intel by 6.0% during the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after purchasing an additional 4,226,790 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC stock traded up $0.07 during mid-day trading on Monday, hitting $30.97. 36,153,059 shares of the stock were exchanged, compared to its average volume of 48,448,844. The stock’s fifty day simple moving average is $39.36 and its two-hundred day simple moving average is $42.08. The stock has a market capitalization of $131.84 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 10.05 and a beta of 1.09. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INTC shares. Morgan Stanley cut their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. UBS Group boosted their target price on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC lowered their price target on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Wedbush lowered their target price on shares of Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a report on Friday, April 26th. Finally, Mizuho dropped their price target on shares of Intel from $55.00 to $45.00 and set a “buy” 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 assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.75.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel 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.