Teachers Retirement System of The State of Kentucky Takes $10.06 Million Position in Intel Co. (NASDAQ:INTC)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Intel Co. (NASDAQ:INTC – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 390,227 shares of the chip maker’s stock, valued at approximately $10,056,000.

Other institutional investors have also recently made changes to their positions in the company. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Intel by 12.4% during the third quarter. Butensky & Cohen Financial Security Inc. now owns 97,399 shares of the chip maker’s stock valued at $2,510,000 after purchasing an additional 10,758 shares during the period. Martin & Co. Inc. TN raised its holdings in shares of Intel by 1.7% in the 3rd quarter. Martin & Co. Inc. TN now owns 24,335 shares of the chip maker’s stock worth $627,000 after acquiring an additional 402 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Intel by 6.3% in the 3rd quarter. AdvisorNet Financial Inc now owns 40,942 shares of the chip maker’s stock worth $1,055,000 after acquiring an additional 2,422 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Intel in the 3rd quarter worth about $896,000. Finally, HBW Advisory Services LLC raised its holdings in shares of Intel by 15.8% in the 3rd quarter. HBW Advisory Services LLC now owns 35,864 shares of the chip maker’s stock worth $924,000 after acquiring an additional 4,899 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Intel Stock Performance

NASDAQ INTC opened at $30.18 on Friday. Intel Co. has a 1 year low of $24.59 and a 1 year high of $52.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.57 and a quick ratio of 1.16. The stock has a market capitalization of $124.85 billion, a PE ratio of 15.40, a P/E/G ratio of 8.61 and a beta of 0.81. The company’s 50 day simple moving average is $28.07 and its two-hundred day simple moving average is $28.16.

Intel (NASDAQ:INTC – Get Rating) last posted its earnings results on Thursday, January 26th. The chip maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a return on equity of 7.45% and a net margin of 12.71%. The firm had revenue of $14.04 billion during the quarter, compared to analysts’ expectations of $14.49 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was down 31.6% compared to the same quarter last year. Analysts predict that Intel Co. will post 0.55 earnings per share for the current fiscal year.

Intel Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, May 4th. Intel’s dividend payout ratio (DPR) is currently 74.49%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 9,700 shares of the stock in a transaction dated Thursday, February 23rd. The shares were purchased at an average price of $25.68 per share, for a total transaction of $249,096.00. Following the transaction, the chief executive officer now owns 18,700 shares in the company, valued at approximately $480,216. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other Intel news, CFO David Zinsner bought 1,800 shares of Intel stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $27.89 per share, with a total value of $50,202.00. Following the acquisition, the chief financial officer now owns 17,450 shares in the company, valued at $486,680.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 9,700 shares of Intel stock in a transaction that occurred on Thursday, February 23rd. The shares were acquired at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the acquisition, the chief executive officer now owns 18,700 shares in the company, valued at approximately $480,216. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 20,500 shares of company stock worth $549,768. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTC. Raymond James began coverage on shares of Intel in a report on Wednesday, March 1st. They issued an “outperform” rating and a $30.00 target price on the stock. Morgan Stanley upgraded shares of Intel from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $29.50 to $28.00 in a report on Thursday, February 23rd. Northland Securities reduced their price objective on shares of Intel from $52.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 27th. Truist Financial reduced their price objective on shares of Intel from $33.00 to $29.00 in a research report on Friday, January 27th. Finally, Rosenblatt Securities reduced their price objective on shares of Intel from $20.00 to $17.00 and set a “sell” rating for the company in a research report on Friday, January 27th. Eight analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $29.38.

Intel Company Profile

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.