Old Port Advisors Boosts Holdings in Intel Co. (NASDAQ:INTC)

Old Port Advisors boosted its position in Intel Co. (NASDAQ:INTC – Get Rating) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 65,883 shares of the chip maker’s stock after buying an additional 3,251 shares during the period. Old Port Advisors’ holdings in Intel were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. O Dell Group LLC lifted its holdings in Intel by 258.1% in the third quarter. O Dell Group LLC now owns 974 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 702 shares during the period. Islay Capital Management LLC acquired a new stake in Intel in the third quarter valued at $26,000. Mach 1 Financial Group LLC acquired a new stake in Intel in the third quarter valued at $29,000. Phocas Financial Corp. acquired a new stake in Intel in the fourth quarter valued at $33,000. Finally, Grayhawk Investment Strategies Inc. acquired a new stake in Intel in the second quarter valued at $36,000. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 9,000 shares of the stock in a transaction that occurred on Tuesday, January 31st. The stock was purchased at an average cost of $27.83 per share, for a total transaction of $250,470.00. Following the purchase, the chief executive officer now directly owns 9,000 shares in the company, valued at $250,470. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO David Zinsner acquired 1,800 shares of the stock in a transaction that occurred on Monday, January 30th. The stock was purchased at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the purchase, the chief financial officer now directly owns 17,450 shares in the company, valued at $486,680.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 9,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was acquired at an average cost of $27.83 per share, with a total value of $250,470.00. Following the purchase, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $250,470. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 20,500 shares of company stock valued at $549,768. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INTC shares. Susquehanna raised Intel from a “negative” rating to a “neutral” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Thursday. Sanford C. Bernstein set a $20.00 price target on Intel in a research note on Friday, January 27th. Bank of America cut their price target on Intel from $28.00 to $25.00 and set an “underperform” rating for the company in a research note on Friday, January 27th. Morgan Stanley upgraded Intel from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $29.50 to $28.00 in a research report on Thursday, February 23rd. Finally, Cowen dropped their price objective on Intel from $31.00 to $26.00 and set a “market perform” rating for the company in a research report on Friday, January 27th. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.38.

Intel Stock Performance

Shares of INTC opened at $29.81 on Friday. The business’s 50 day moving average is $28.09 and its two-hundred day moving average is $28.11. Intel Co. has a 52-week low of $24.59 and a 52-week high of $52.51. The firm has a market cap of $123.32 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 9.64 and a beta of 0.81. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.36.

Intel (NASDAQ:INTC – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). The firm had revenue of $14.04 billion for the quarter, compared to analyst estimates of $14.49 billion. Intel had a net margin of 12.71% and a return on equity of 7.45%. The business’s revenue was down 31.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Analysts forecast that Intel Co. will post 0.55 EPS for the current fiscal year.

Intel Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 4th. Intel’s dividend payout ratio is currently 74.49%.

About Intel

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.