Arlington Capital Management Inc. Buys New Shares in Intel Co. (NASDAQ:INTC)

Arlington Capital Management Inc. acquired a new stake in Intel Co. (NASDAQ:INTC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,936 shares of the chip maker’s stock, valued at approximately $1,504,000. Intel makes up 1.4% of Arlington Capital Management Inc.’s portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently made changes to their positions in the business. California Public Employees Retirement System grew its position in Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after acquiring an additional 8,140,835 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of 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 purchasing an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Intel during the fourth quarter valued at $251,250,000. Parnassus Investments LLC increased its position in shares of Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after acquiring an additional 4,631,905 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of Intel by 6.0% during the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after acquiring an additional 4,226,790 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 0.6 %

NASDAQ INTC traded up $0.17 during trading hours on Thursday, reaching $30.17. 16,578,039 shares of the company traded hands, compared to its average volume of 48,214,652. 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 stock has a market capitalization of $128.43 billion, a PE ratio of 31.48, a PEG ratio of 10.05 and a beta of 1.09. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a 50 day moving average of $39.12 and a two-hundred day moving average of $42.05.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.66%. Intel’s payout ratio is presently 52.08%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Wedbush cut their price target on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a report on Friday, April 26th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Evercore ISI decreased their target price on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research report on Friday, April 26th. Finally, UBS Group boosted their price objective on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.62.

Insider Activity

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

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.