Van ECK Associates Corp Has $747.88 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Van ECK Associates Corp raised its position in Intel Co. (NASDAQ:INTC) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,883,148 shares of the chip maker’s stock after acquiring an additional 571,966 shares during the period. Intel comprises approximately 1.4% of Van ECK Associates Corp’s holdings, making the stock its 12th largest holding. Van ECK Associates Corp owned 0.35% of Intel worth $747,878,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Intel by 0.4% in the third quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock worth $13,548,451,000 after purchasing an additional 1,624,453 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 6.0% in the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after buying an additional 4,226,790 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after buying an additional 1,626,127 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Intel by 18.6% during the 3rd 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 during the period. Finally, Invesco Ltd. boosted its stake in Intel by 13.4% in the 3rd quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock valued at $1,272,266,000 after buying an additional 4,222,381 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 1.6 %

Shares of Intel stock traded down $0.52 during trading on Monday, hitting $31.36. 58,488,666 shares of the company were exchanged, compared to its average volume of 48,273,395. The firm has a market capitalization of $132.59 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The firm’s fifty day moving average price is $40.88 and its 200 day moving average price is $42.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28.

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

Intel Announces Dividend

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

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INTC. HSBC cut their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday. Evercore ISI dropped their price objective on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a report on Friday. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday. Finally, Truist Financial decreased their price target on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus 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.