Intel Co. (NASDAQ:INTC) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association grew its stake in shares of Intel Co. (NASDAQ:INTC) by 3.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 251,066 shares of the chip maker’s stock after buying an additional 8,809 shares during the period. TIAA Trust National Association’s holdings in Intel were worth $11,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in shares of Intel in the 4th quarter valued at $1,498,000. Vest Financial LLC boosted its position in shares of Intel by 36.7% in the fourth quarter. Vest Financial LLC now owns 20,497 shares of the chip maker’s stock worth $1,030,000 after buying an additional 5,498 shares during the period. OneAscent Financial Services LLC acquired a new stake in shares of Intel in the fourth quarter valued at about $354,000. Galvin Gaustad & Stein LLC purchased a new stake in shares of Intel during the fourth quarter valued at approximately $260,000. Finally, RDA Financial Network increased its stake in Intel by 16.4% during the 4th quarter. RDA Financial Network now owns 16,377 shares of the chip maker’s stock worth $823,000 after buying an additional 2,311 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Intel stock traded down $1.89 during trading hours on Friday, hitting $32.98. 69,628,654 shares of the company traded hands, compared to its average volume of 50,896,944. Intel Co. has a 1-year low of $29.73 and a 1-year high of $51.28. The firm has a market cap of $140.40 billion, a P/E ratio of 34.35, a P/E/G ratio of 19.74 and a beta of 1.05. The firm’s 50-day simple moving average is $31.56 and its two-hundred day simple moving average is $37.97. 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 (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, analysts forecast that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed 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 was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.52%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity at Intel

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on INTC. Evercore ISI lowered their target price on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Cantor Fitzgerald restated a “neutral” rating and set a $40.00 price objective on shares of Intel in a report on Tuesday, July 16th. HSBC reduced their target price on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Sanford C. Bernstein cut their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Finally, Morgan Stanley decreased their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.25.

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.