Patrick P. Gelsinger Purchases 4,100 Shares of Intel Co. (NASDAQ:INTC) Stock

Intel Co. (NASDAQ:INTC) CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Intel Price Performance

Shares of INTC opened at $30.90 on Friday. The company has a 50 day moving average of $39.84 and a two-hundred day moving average of $42.06. The company has a market cap of $131.54 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 9.88 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 twelve month low of $26.85 and a twelve month high of $51.28.

Intel Announces Dividend

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

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Vanguard Group Inc. increased its holdings in shares of Intel by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after acquiring an additional 4,678,169 shares in the last quarter. Capital International Investors increased its stake in Intel by 0.3% during the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after purchasing an additional 318,495 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Norges Bank acquired a new stake in shares of Intel during the fourth quarter worth $2,424,202,000. Finally, Northern Trust Corp grew its holdings in shares of Intel by 3.7% during the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after buying an additional 1,626,127 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on INTC shares. Morgan Stanley cut their price target on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Citigroup decreased their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company cut their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. decreased their target price on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday, April 26th. Finally, Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.