Intrust Bank NA Boosts Holdings in Intel Co. (NASDAQ:INTC)

Intrust Bank NA lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,346 shares of the chip maker’s stock after purchasing an additional 4,323 shares during the period. Intrust Bank NA’s holdings in Intel were worth $1,877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. California Public Employees Retirement System raised its holdings in Intel by 102.6% in 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 last quarter. Bank of New York Mellon Corp lifted its position in Intel by 18.6% during the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after buying an additional 6,064,950 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 worth $1,228,752,000 after buying an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in Intel in the 4th quarter valued at $251,250,000. Finally, Parnassus Investments LLC boosted its position in shares of Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after acquiring an additional 4,631,905 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of Intel stock traded down $0.52 during trading hours on Monday, hitting $31.36. 58,008,130 shares of the company were exchanged, compared to its average volume of 48,267,516. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The stock has a market capitalization of $132.59 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 2.89 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $40.88 and a 200-day moving average of $42.30.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.19% and a net margin of 7.36%. The business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.59%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of a number of analyst reports. Barclays reduced their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday. Raymond James decreased their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Evercore ISI reduced their target price on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research report on Friday. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday. Finally, Morgan Stanley decreased their target price on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.75.

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.