Insider Buying: Intel Co. (NASDAQ:INTC) CEO Acquires 4,000 Shares of Stock

Intel Co. (NASDAQ:INTC) CEO Patrick P. Gelsinger acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Intel Trading Down 0.3 %

Shares of Intel stock opened at $30.37 on Thursday. The firm has a 50-day simple moving average of $40.09 and a two-hundred day simple moving average of $42.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a market cap of $129.29 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 8.39 and a beta of 1.09.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently added to or reduced their stakes in INTC. Slow Capital Inc. increased its stake in Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after buying an additional 508 shares in the last quarter. Altus Wealth Group LLC boosted its stake in shares of Intel by 29.4% in the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after acquiring an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC purchased a new stake in shares of Intel during the fourth quarter worth approximately $201,000. Callan Capital LLC raised its stake in Intel by 9.1% in the 4th quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its holdings in Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on INTC shares. TD Cowen reduced their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. lowered their target price on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Friday, April 26th. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Sanford C. Bernstein decreased their price objective on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Finally, Evercore ISI dropped their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.