OLD Republic International Corp Reduces Holdings in Intel Co. (NASDAQ:INTC)

OLD Republic International Corp lowered its stake in Intel Co. (NASDAQ:INTC) by 90.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 90,300 shares of the chip maker’s stock after selling 885,600 shares during the quarter. OLD Republic International Corp’s holdings in Intel were worth $4,538,000 at the end of the most recent quarter.

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

Insider Activity

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

Intel Price Performance

Shares of Intel stock traded up $0.08 during mid-day trading on Friday, reaching $30.17. 14,562,187 shares of the stock traded hands, compared to its average volume of 48,157,250. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $38.62 and a 200 day moving average of $41.88. The stock has a market capitalization of $128.43 billion, a PE ratio of 31.46, a PEG ratio of 10.05 and a beta of 1.09. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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 1.66%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is 52.08%.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of recent research reports. HSBC decreased their price target on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. TD Cowen lowered their target price on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. UBS Group raised their price target on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Wells Fargo & Company lowered their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, April 26th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.62.

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.