Intel (NASDAQ:INTC) Stock Price Up 1% Following Insider Buying Activity

Intel Co. (NASDAQ:INTC)’s share price was up 1% during trading on Friday following insider buying activity. The company traded as high as $31.06 and last traded at $30.81. Approximately 12,090,980 shares traded hands during mid-day 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 bought 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now 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 through this link. Also, CEO Patrick P. Gelsinger bought 4,000 shares of Intel stock in a transaction dated 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 purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Bank of America reduced their target price on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Raymond James lowered their price target on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Mizuho lowered their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.75.

Intel Stock Up 1.3 %

The stock has a market capitalization of $131.54 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 9.93 and a beta of 1.09. The firm has a 50-day moving average of $39.60 and a 200 day moving average of $42.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Announces Dividend

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

Institutional Trading of Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Norges Bank acquired a new stake in Intel in the 4th quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. 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. Van ECK Associates Corp increased its holdings in shares of Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after acquiring an additional 6,673,086 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake 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 acquiring an additional 5,217,549 shares during the period. 64.53% of the stock is owned by institutional investors.

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.