Leith Wheeler Investment Counsel Ltd. Purchases Shares of 5,590 Intel Co. (NASDAQ:INTC)

Leith Wheeler Investment Counsel Ltd. acquired a new position in Intel Co. (NASDAQ:INTC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,590 shares of the chip maker’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Intel in the 4th quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD lifted its position in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after acquiring an additional 8,140,835 shares during the period. Van ECK Associates Corp raised its stake in Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after acquiring an additional 6,673,086 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on INTC. Truist Financial decreased their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Wedbush cut their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company dropped their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Mizuho reduced their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup dropped their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price of $39.58.

Intel Trading Up 3.0 %

Shares of NASDAQ:INTC traded up $0.99 on Friday, hitting $34.49. 17,881,510 shares of the company’s stock were exchanged, compared to its average volume of 47,006,141. The stock has a market capitalization of $146.82 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 16.62 and a beta of 1.05. Intel Co. has a 12 month low of $29.73 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The business’s 50 day simple moving average is $31.09 and its two-hundred day simple moving average is $38.69.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The company had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Analysts anticipate that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.45%. Intel’s dividend payout ratio is currently 52.08%.

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.