Channing Capital Management LLC Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Channing Capital Management LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 27.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 155,637 shares of the chip maker’s stock after purchasing an additional 33,431 shares during the period. Channing Capital Management LLC’s holdings in Intel were worth $7,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Slow Capital Inc. grew its holdings in shares of Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after purchasing an additional 508 shares during the period. Altus Wealth Group LLC grew its position in Intel by 29.4% in the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after acquiring an additional 5,759 shares during the period. Alera Investment Advisors LLC acquired a new stake in Intel during the fourth quarter worth $201,000. Callan Capital LLC raised its position in Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares during the period. Finally, Vanguard Capital Wealth Advisors lifted its stake in shares of Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ INTC traded up $0.39 during trading hours on Friday, hitting $30.90. The company had a trading volume of 36,794,828 shares, compared to its average volume of 58,447,700. The business has a 50 day moving average of $39.60 and a 200-day moving average of $42.11. The company has a market cap of $131.54 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel’s dividend payout ratio is presently 52.08%.

Analysts Set New Price Targets

Several analysts recently issued reports on INTC shares. UBS Group boosted their price objective on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Barclays cut their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Susquehanna lowered their target price on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Mizuho cut their price target on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Evercore ISI lowered their price objective on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $39.75.

Insiders Place Their Bets

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

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.