Leith Wheeler Investment Counsel Ltd. Acquires Shares of 5,590 Intel Co. (NASDAQ:INTC)

Leith Wheeler Investment Counsel Ltd. bought a new stake in Intel Co. (NASDAQ:INTC) during the 1st quarter, Holdings Channel reports. The firm bought 5,590 shares of the chip maker’s stock, valued at approximately $247,000.

A number of other institutional investors have also modified their holdings of INTC. New Millennium Group LLC increased its stake in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Intel in the fourth quarter valued at about $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new position in Intel during the 1st quarter worth approximately $27,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after buying an additional 362 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Sanford C. Bernstein dropped their price objective on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Wolfe Research upgraded shares of Intel from an “underperform” rating to a “peer perform” rating in a research report on Thursday, May 16th. Finally, Truist Financial dropped their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.58.

Intel Stock Up 3.0 %

Shares of NASDAQ INTC traded up $0.99 on Friday, hitting $34.49. The company had a trading volume of 17,881,510 shares, compared to its average volume of 47,006,141. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a 12-month low of $29.73 and a 12-month high of $51.28. The firm has a market capitalization of $146.82 billion, a P/E ratio of 36.09, a PEG ratio of 16.62 and a beta of 1.05. The business has a 50 day moving average of $31.09 and a two-hundred day moving average of $38.69.

Intel (NASDAQ:INTC) last released its quarterly earnings results 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). The company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. As a group, equities research analysts forecast that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insiders Place Their Bets

In other Intel news, 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, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

About Intel

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.