Citizens Financial Group Inc. RI Buys 10,516 Shares of Intel Co. (NASDAQ:INTC)

Citizens Financial Group Inc. RI raised its stake in Intel Co. (NASDAQ:INTC) by 31.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,570 shares of the chip maker’s stock after purchasing an additional 10,516 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intel were worth $2,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. California Public Employees Retirement System boosted its stake in shares of Intel by 102.6% during the 4th 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 during the period. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 6,064,950 shares during the period. Wellington Management Group LLP boosted its stake in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the period. Alecta Tjanstepension Omsesidigt bought a new position in shares of Intel during the 4th quarter worth approximately $251,250,000. Finally, Parnassus Investments LLC boosted its stake 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 worth $830,773,000 after acquiring an additional 4,631,905 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INTC has been the subject of several research analyst reports. Mizuho reduced their target price on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday. Morgan Stanley dropped their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Truist Financial dropped their price target on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.75.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

INTC stock traded down $3.23 during midday trading on Friday, reaching $31.88. 119,742,494 shares of the stock were exchanged, compared to its average volume of 50,613,192. The stock has a market capitalization of $134.79 billion, a PE ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The company has a fifty day moving average price of $40.88 and a 200 day moving average price of $42.23.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given 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 1.57%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.