Sunbelt Securities Inc. purchased a new stake in shares of Intel Co. (NASDAQ:INTC – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,761 shares of the chip maker’s stock, valued at approximately $896,000.
Several other institutional investors have also recently made changes to their positions in INTC. O Dell Group LLC increased its stake in shares of Intel by 258.1% during the third quarter. O Dell Group LLC now owns 974 shares of the chip maker’s stock valued at $25,000 after buying an additional 702 shares during the period. Islay Capital Management LLC bought a new stake in Intel during the third quarter valued at about $26,000. Mach 1 Financial Group LLC bought a new stake in Intel during the third quarter valued at about $29,000. Grayhawk Investment Strategies Inc. bought a new stake in Intel during the second quarter valued at about $36,000. Finally, Lowe Wealth Advisors LLC boosted its position in Intel by 46.2% during the third quarter. Lowe Wealth Advisors LLC now owns 1,592 shares of the chip maker’s stock valued at $41,000 after purchasing an additional 503 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.
Intel Stock Up 1.4 %
Shares of INTC stock opened at $28.41 on Thursday. The stock has a 50 day moving average of $28.02 and a 200 day moving average of $28.15. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a market cap of $117.53 billion, a P/E ratio of 14.49, a P/E/G ratio of 8.70 and a beta of 0.81. Intel Co. has a twelve month low of $24.59 and a twelve month high of $52.51.
Intel Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, May 4th. Intel’s dividend payout ratio (DPR) is presently 74.49%.
Wall Street Analyst Weigh In
INTC has been the topic of a number of recent research reports. Credit Suisse Group set a $25.00 price objective on Intel in a research report on Thursday, February 23rd. Wells Fargo & Company dropped their price objective on Intel from $32.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, January 27th. Barclays lowered their price target on Intel from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. Raymond James initiated coverage on Intel in a report on Wednesday, March 1st. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Susquehanna lowered their price target on Intel from $24.00 to $23.00 and set a “sell” rating for the company in a report on Friday, January 27th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price of $29.28.
Insider Activity
In other Intel news, CEO Patrick P. Gelsinger acquired 9,700 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was acquired at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the transaction, the chief executive officer now directly owns 18,700 shares of the company’s stock, valued at $480,216. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intel news, CEO Patrick P. Gelsinger acquired 9,700 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was acquired at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the transaction, the chief executive officer now directly owns 18,700 shares of the company’s stock, valued at $480,216. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 9,000 shares of the business’s stock in a transaction dated Tuesday, January 31st. The stock was acquired at an average price of $27.83 per share, with a total value of $250,470.00. Following the completion of the transaction, the chief executive officer now directly owns 9,000 shares of the company’s stock, valued at $250,470. The disclosure for this purchase can be found here. Insiders acquired 20,500 shares of company stock worth $549,768 over the last three months. 0.02% of the stock is currently owned by corporate insiders.
Intel Profile
Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.
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