Intel Co. Plans Quarterly Dividend of $0.13 (NASDAQ:INTC)

Intel Co. (NASDAQ:INTC) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Wednesday, August 7th will be paid a dividend of 0.125 per share by the chip maker on Sunday, September 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, August 7th.

Intel has decreased its dividend payment by an average of 17.5% annually over the last three years. Intel has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Intel to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 60.2%.

Intel Stock Performance

Shares of NASDAQ INTC traded down $7.57 during trading hours on Friday, reaching $21.48. 300,895,920 shares of the stock were exchanged, compared to its average volume of 60,137,096. The stock’s fifty day simple moving average is $31.35 and its 200 day simple moving average is $36.85. Intel has a 52 week low of $20.42 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market capitalization of $91.44 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 17.38 and a beta of 1.05.

Analysts Set New Price Targets

A number of equities analysts have commented on INTC shares. Citigroup lowered their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $35.00 to $23.00 in a report on Friday. The Goldman Sachs Group reduced their target price on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday. Barclays reduced their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday. Five equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.41.

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.