Penobscot Investment Management Company Inc. Buys 1,910 Shares of Intel Co. (NASDAQ:INTC)

Penobscot Investment Management Company Inc. increased its stake in Intel Co. (NASDAQ:INTC) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 59,063 shares of the chip maker’s stock after purchasing an additional 1,910 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Intel were worth $2,968,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. California Public Employees Retirement System increased its stake in 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 valued at $807,757,000 after purchasing an additional 8,140,835 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Intel by 18.6% during the 3rd 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 purchasing an additional 6,064,950 shares in the last quarter. Wellington Management Group LLP increased its stake in Intel by 17.8% during 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 in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in Intel during the 4th quarter valued at $251,250,000. Finally, Parnassus Investments LLC increased its stake in Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after purchasing an additional 4,631,905 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price 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 approximately $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTC. The Goldman Sachs Group reduced their target price on shares of Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Friday. HSBC reduced their target price 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. TD Cowen cut their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a report on Friday. Sanford C. Bernstein cut their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Truist Financial cut their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Trading Down 1.7 %

Shares of NASDAQ:INTC traded down $0.53 during midday trading on Tuesday, hitting $30.83. 31,044,467 shares of the stock traded hands, compared to its average volume of 48,058,691. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $40.63 and its two-hundred day moving average is $42.27. The stock has a market capitalization of $130.35 billion, a PE ratio of 32.34, a P/E/G ratio of 2.89 and a beta of 1.00. Intel Co. has a one year low of $26.85 and a one year high of $51.28.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 currently 52.08%.

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.