Intel Co. (NASDAQ:INTC) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in Intel Co. (NASDAQ:INTC) by 70.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,114 shares of the chip maker’s stock after purchasing an additional 28,531 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intel were worth $2,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors lifted its position in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA lifted its position in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after purchasing an additional 475,636 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares during the period. Finally, Wellington Management Group LLP lifted its position in Intel by 7.3% in the fourth quarter. Wellington Management Group LLP now owns 37,080,015 shares of the chip maker’s stock valued at $1,863,271,000 after purchasing an additional 2,515,978 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 6.4 %

INTC stock opened at $20.91 on Tuesday. The stock has a market capitalization of $89.41 billion, a P/E ratio of 21.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a 50 day moving average price of $24.71 and a two-hundred day moving average price of $31.45.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. As a group, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.39%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTC. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $35.00 to $23.00 in a report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Truist Financial dropped their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.04.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by company insiders.

Intel 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.