Intel (NASDAQ:INTC) Stock Price Up 0.6% After Dividend Announcement

Intel Co. (NASDAQ:INTC)’s stock price traded up 0.6% during trading on Thursday following a dividend announcement from the company. The company traded as high as $34.97 and last traded at $34.72. 12,322,298 shares were traded during mid-day trading, a decline of 74% from the average session volume of 46,558,297 shares. The stock had previously closed at $34.50.

The newly announced dividend which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is 52.08%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Susquehanna dropped their price target on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial dropped their price target on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday. Sanford C. Bernstein dropped their price target on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research note on Friday. Evercore ISI dropped their price target on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday. Finally, UBS Group lifted their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. The company has a fifty day moving average of $40.88 and a two-hundred day moving average of $42.23.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The company 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 2.22% and a net margin of 7.36%. Intel’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Equities research analysts anticipate that Intel Co. will post 0.6 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Intel

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares in the last quarter. Capital International Investors lifted its stake in Intel by 0.3% during the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after acquiring an additional 318,495 shares during the period. Primecap Management Co. CA lifted its stake in Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after acquiring an additional 475,636 shares during the period. Norges Bank bought a new position in Intel during the 4th quarter valued at about $2,424,202,000. Finally, Northern Trust Corp lifted its stake in Intel by 3.7% during the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.