Stockman Wealth Management Inc. Makes New $232,000 Investment in Intel Co. (NASDAQ:INTC)

Stockman Wealth Management Inc. purchased a new stake in Intel Co. (NASDAQ:INTC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,626 shares of the chip maker’s stock, valued at approximately $232,000.

Several other large investors also recently modified their holdings of INTC. California Public Employees Retirement System lifted its holdings in Intel by 102.6% in the fourth 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 last quarter. Bank of New York Mellon Corp increased its stake in shares of Intel by 18.6% during the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after acquiring an additional 6,064,950 shares during the period. Wellington Management Group LLP grew its position in Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after buying an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in Intel in the fourth quarter worth approximately $251,250,000. Finally, Parnassus Investments LLC boosted its stake in Intel by 24.7% in the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Intel Price Performance

NASDAQ INTC remained flat at $34.41 during trading on Tuesday. The company’s stock had a trading volume of 19,823,110 shares, compared to its average volume of 46,566,020. The firm has a market capitalization of $145.49 billion, a P/E ratio of 88.03, a P/E/G ratio of 3.07 and a beta of 1.00. The company has a 50-day moving average of $41.66 and a 200-day moving average of $42.37. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. As a group, research analysts predict that Intel Co. will post 0.61 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio is currently 128.21%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTC. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, February 23rd. Raymond James dropped their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Truist Financial reissued a “hold” rating and issued a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Citigroup reduced their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Finally, Bank of America reduced their target price on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.38.

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.