Texas Permanent School Fund Corp Buys 5,801 Shares of Intel Co. (NASDAQ:INTC)

Texas Permanent School Fund Corp grew its stake in Intel Co. (NASDAQ:INTC) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 873,965 shares of the chip maker’s stock after acquiring an additional 5,801 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Intel were worth $38,603,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of INTC. Norges Bank purchased a new position in shares of Intel in the fourth quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD raised its stake in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Intel by 44.8% in the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after purchasing an additional 6,673,086 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Down 3.9 %

Shares of NASDAQ:INTC traded down $1.37 during trading on Thursday, hitting $33.50. The company had a trading volume of 55,083,593 shares, compared to its average volume of 47,225,066. The stock has a market cap of $142.61 billion, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of 16.20 and a beta of 1.05. Intel Co. has a one year low of $29.73 and a one year high of $51.28. The company has a fifty day simple moving average of $31.03 and a two-hundred day simple moving average of $38.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. As a group, equities analysts forecast that Intel Co. will post 0.09 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.49%. Intel’s payout ratio is 52.08%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday, April 26th. Mizuho reduced their price objective on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Benchmark reiterated a “buy” rating and set a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Wedbush reduced their price objective on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.58.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

About Intel

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.