Retirement Systems of Alabama Buys 5,870 Shares of Intel Co. (NASDAQ:INTC)

Retirement Systems of Alabama lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 939,049 shares of the chip maker’s stock after acquiring an additional 5,870 shares during the quarter. Retirement Systems of Alabama’s holdings in Intel were worth $29,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. Frazier Financial Advisors LLC acquired a new position in Intel during the 4th quarter worth approximately $27,000. Burkett Financial Services LLC bought a new position in shares of Intel in the 4th quarter worth $27,000. Tributary Capital Management LLC bought a new position in shares of Intel in the 1st quarter worth $27,000. Triad Wealth Partners LLC acquired a new stake in Intel in the 2nd quarter valued at $33,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in Intel during the 1st quarter valued at $36,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

NASDAQ:INTC traded up $0.44 during trading hours on Friday, hitting $20.54. The stock had a trading volume of 73,398,430 shares, compared to its average volume of 52,838,734. The company has a 50 day simple moving average of $28.28 and a two-hundred day simple moving average of $34.20. The firm has a market capitalization of $87.44 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 17.38 and a beta of 1.05. 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 Co. has a one year low of $18.84 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business posted ($0.05) EPS. Intel’s quarterly revenue was down .8% on a year-over-year basis. Research analysts forecast that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

INTC has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, April 26th. TD Cowen decreased their price target on Intel from $35.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $32.04.

Intel 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.