Intel (NASDAQ:INTC) Trading Up 0.6% Following Dividend Announcement

Intel Co. (NASDAQ:INTC) rose 0.6% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $34.97 and last traded at $34.72. Approximately 12,322,298 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 46,558,297 shares. The stock had previously closed at $34.50.

The newly announced dividend which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analysts Set New Price Targets

A number of research analysts have commented on INTC shares. Sanford C. Bernstein reduced their target price on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday. Truist Financial lowered their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research note on Friday. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Susquehanna lowered their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $39.75.

Intel Trading Down 9.2 %

The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $40.88 and a 200-day moving average of $42.23. The stock has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. As a group, research analysts forecast that Intel Co. will post 0.6 earnings per share for the current year.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. Barrett & Company Inc. increased its position in Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after buying an additional 210 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after acquiring an additional 216 shares during the last quarter. New Millennium Group LLC increased its position in Intel by 87.2% during the fourth 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. Waldron Private Wealth LLC raised its stake in Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. boosted its holdings in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after purchasing an additional 246 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

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.