Intel (NASDAQ:INTC) Trading 1% Higher Following Insider Buying Activity

Intel Co. (NASDAQ:INTC)’s stock price was up 1% during mid-day trading on Friday following insider buying activity. The stock traded as high as $31.06 and last traded at $30.81. Approximately 12,090,980 shares changed hands during trading, a decline of 75% from the average daily volume of 48,289,027 shares. The stock had previously closed at $30.51.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James decreased their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Bank of America decreased their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. HSBC decreased their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Sanford C. Bernstein decreased their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday, April 26th. Four equities research 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’s stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $39.75.

Intel Stock Performance

The company’s fifty day moving average is $39.60 and its 200 day moving average is $42.02. The company has a market capitalization of $131.54 billion, a P/E ratio of 32.19, a P/E/G ratio of 9.93 and a beta of 1.09. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INTC. Norges Bank bought a new position in Intel in the 4th quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD boosted its holdings in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. California Public Employees Retirement System boosted its holdings in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares during the period. Van ECK Associates Corp boosted its holdings in Intel by 44.8% in the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after purchasing an additional 6,673,086 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Intel by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. 64.53% of the stock is owned by institutional investors.

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.