Wright Investors Service Inc. Buys New Position in Intel Co. (NASDAQ:INTC)

Wright Investors Service Inc. bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the fourth quarter, Holdings Channel reports. The firm bought 20,039 shares of the chip maker’s stock, valued at approximately $1,007,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC boosted its holdings in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the period. Cornerstone Planning Group LLC acquired a new position in Intel during the second quarter worth approximately $25,000. Legacy Financial Group LLC acquired a new position in Intel during the third quarter worth approximately $30,000. Milestone Investment Advisors LLC acquired a new position in shares of Intel in the first quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after purchasing an additional 362 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INTC shares. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday, February 23rd. Barclays boosted their target price on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Wedbush reissued a “neutral” rating and issued a $40.00 target price on shares of Intel in a report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group boosted their target price on Intel from $34.00 to $39.00 and gave the company a “sell” rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $42.62.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.15 on Thursday, hitting $35.53. The company had a trading volume of 10,846,351 shares, compared to its average volume of 46,430,035. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The business has a 50 day moving average of $42.18 and a 200 day moving average of $42.35. The company has a market cap of $150.22 billion, a PE ratio of 91.28, a PEG ratio of 3.21 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, equities analysts anticipate that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a yield of 1.41%. Intel’s payout ratio is currently 128.21%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

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.