Maryland State Retirement & Pension System Purchases 6,966 Shares of Intel Co. (NASDAQ:INTC)

Maryland State Retirement & Pension System lifted its stake in Intel Co. (NASDAQ:INTC) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,531 shares of the chip maker’s stock after purchasing an additional 6,966 shares during the period. Maryland State Retirement & Pension System’s holdings in Intel were worth $16,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New Millennium Group LLC grew its holdings in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the period. Raleigh Capital Management Inc. grew its holdings in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Intel during the 4th quarter worth $36,000. Signature Resources Capital Management LLC acquired a new stake in Intel during the 4th quarter worth $37,000. Finally, Bare Financial Services Inc acquired a new stake in Intel during the 4th quarter worth $39,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on INTC shares. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Roth Mkm decreased their target price on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. decreased their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday, April 26th. Sanford C. Bernstein decreased their target price on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, HSBC decreased their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Four investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’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 transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Trading Down 0.5 %

Intel stock traded down $0.17 during mid-day trading on Tuesday, reaching $30.80. 26,585,189 shares of the company traded hands, compared to its average volume of 48,171,855. The firm’s 50 day moving average price is $39.36 and its 200 day moving average price is $42.08. The firm has a market capitalization of $131.12 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 10.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28.

Intel Announces Dividend

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

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.