First Trust Direct Indexing L.P. Raises Stock Position in Intel Co. (NASDAQ:INTC)

First Trust Direct Indexing L.P. grew its holdings in Intel Co. (NASDAQ:INTC) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,005 shares of the chip maker’s stock after acquiring an additional 9,457 shares during the period. First Trust Direct Indexing L.P.’s holdings in Intel were worth $4,329,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in INTC. Advisor Resource Council increased its stake in Intel by 579.1% during the 1st quarter. Advisor Resource Council now owns 32,326 shares of the chip maker’s stock worth $1,428,000 after buying an additional 27,566 shares during the period. Massachusetts Wealth Management increased its stake in Intel by 32.7% during the 1st quarter. Massachusetts Wealth Management now owns 10,318 shares of the chip maker’s stock worth $456,000 after buying an additional 2,542 shares during the period. DMC Group LLC increased its stake in Intel by 2.6% during the 1st quarter. DMC Group LLC now owns 34,614 shares of the chip maker’s stock worth $1,529,000 after buying an additional 882 shares during the period. Abundance Wealth Counselors increased its stake in Intel by 2.1% during the 1st quarter. Abundance Wealth Counselors now owns 39,322 shares of the chip maker’s stock worth $1,737,000 after buying an additional 803 shares during the period. Finally, Norden Group LLC increased its stake in Intel by 1,827.3% during the 1st quarter. Norden Group LLC now owns 217,380 shares of the chip maker’s stock worth $9,602,000 after buying an additional 206,101 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.16 during midday trading on Thursday, reaching $31.23. 24,065,673 shares of the company traded hands, compared to its average volume of 36,765,840. Intel Co. has a 52 week low of $29.73 and a 52 week high of $51.28. The stock has a 50-day moving average price of $30.95 and a 200 day moving average price of $39.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a market cap of $132.95 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 14.81 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Sell-side analysts anticipate that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the transaction, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the stock in a transaction on Monday, April 29th. The shares were bought at an average price of $31.42 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INTC shares. Evercore ISI dropped their price target on shares of Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Jefferies Financial Group began coverage on shares of Intel in a research note on Monday, May 13th. They set a “hold” rating and a $34.00 price target on the stock. Wells Fargo & Company dropped their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. HSBC cut their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.58.

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.