Patrick P. Gelsinger Purchases 4,100 Shares of Intel Co. (NASDAQ:INTC) Stock

Intel Co. (NASDAQ:INTC) CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of 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.

Intel Stock Up 1.3 %

INTC opened at $30.90 on Friday. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The firm has a 50 day moving average price of $39.84 and a 200 day moving average price of $42.06. 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 company has a market cap of $131.54 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 9.88 and a beta of 1.09.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on INTC shares. Wedbush dropped their price target on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Evercore ISI decreased their price target on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday, April 26th. Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, April 26th. Four investment 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 company’s stock. According to data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $39.75.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently made changes to their positions in INTC. Barrett & Company Inc. raised its position in Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after buying an additional 216 shares during the period. New Millennium Group LLC lifted its position in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after acquiring an additional 232 shares during the period. Finally, Spreng Capital Management Inc. grew its position in Intel by 1.3% in the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after acquiring an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 64.53% 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.