Public Employees Retirement Association of Colorado Has $24.80 Million Position in Intel Co. (NASDAQ:INTC)

Public Employees Retirement Association of Colorado cut its holdings in Intel Co. (NASDAQ:INTC – Get Rating) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 662,929 shares of the chip maker’s stock after selling 2,774 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Intel were worth $24,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Intel by 1.5% in the first quarter. Vanguard Group Inc. now owns 349,634,956 shares of the chip maker’s stock worth $17,327,909,000 after purchasing an additional 5,076,202 shares during the period. BlackRock Inc. increased its position in Intel by 3.0% in the 1st quarter. BlackRock Inc. now owns 341,450,251 shares of the chip maker’s stock valued at $16,922,274,000 after buying an additional 10,103,061 shares in the last quarter. State Street Corp raised its stake in Intel by 1.1% during the 1st quarter. State Street Corp now owns 178,991,617 shares of the chip maker’s stock worth $8,870,825,000 after buying an additional 1,874,534 shares during the period. Primecap Management Co. CA boosted its holdings in Intel by 12.4% in the second quarter. Primecap Management Co. CA now owns 48,598,246 shares of the chip maker’s stock worth $1,818,060,000 after acquiring an additional 5,344,285 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Intel by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 41,877,503 shares of the chip maker’s stock valued at $2,075,449,000 after acquiring an additional 1,627,363 shares during the period. 61.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INTC shares. Cowen assumed coverage on Intel in a report on Monday, November 21st. They issued a “market perform” rating and a $31.00 target price on the stock. Barclays upgraded shares of Intel from an “underweight” rating to an “equal weight” rating and set a $30.00 price objective for the company in a report on Friday, October 28th. Roth Capital lowered their target price on shares of Intel from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, October 28th. Truist Financial cut their price target on Intel from $40.00 to $29.00 and set a “hold” rating for the company in a research note on Friday, October 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Intel from $35.00 to $32.00 and set a “hold” rating on the stock in a report on Tuesday, October 18th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.67.

Insider Buying and Selling

In other Intel news, Director Lip Bu Tan bought 1,854 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were acquired at an average cost of $27.49 per share, for a total transaction of $50,966.46. Following the purchase, the director now directly owns 2,354 shares of the company’s stock, valued at $64,711.46. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Patrick P. Gelsinger bought 8,830 shares of Intel stock in a transaction that occurred on Monday, October 31st. The shares were acquired at an average price of $28.16 per share, with a total value of $248,652.80. Following the completion of the purchase, the chief executive officer now directly owns 96,049 shares in the company, valued at $2,704,739.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lip Bu Tan purchased 1,854 shares of the company’s stock in a transaction on Friday, November 4th. The shares were purchased at an average cost of $27.49 per share, with a total value of $50,966.46. Following the purchase, the director now owns 2,354 shares of the company’s stock, valued at $64,711.46. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 58,830 shares of company stock worth $1,646,744. Corporate insiders own 0.02% of the company’s stock.

Intel Trading Up 0.4 %

NASDAQ:INTC opened at $28.44 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.77 and a quick ratio of 1.31. The company has a market cap of $117.37 billion, a P/E ratio of 8.75, a P/E/G ratio of 1.94 and a beta of 0.75. Intel Co. has a 1 year low of $24.59 and a 1 year high of $56.28. The stock’s fifty day moving average price is $28.02 and its two-hundred day moving average price is $33.30.

Intel (NASDAQ:INTC – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The chip maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.25. The company had revenue of $15.34 billion during the quarter, compared to analyst estimates of $15.49 billion. Intel had a net margin of 19.13% and a return on equity of 11.67%. As a group, analysts expect that Intel Co. will post 1.95 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Monday, November 7th were issued a $0.365 dividend. The ex-dividend date was Friday, November 4th. This represents a $1.46 annualized dividend and a dividend yield of 5.13%. Intel’s payout ratio is currently 44.92%.

Intel Profile

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Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.