Cullen Investment Group LTD. Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

Cullen Investment Group LTD. boosted its position in Intel Co. (NASDAQ:INTC) by 4.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 14,377 shares of the chip maker’s stock after purchasing an additional 635 shares during the period. Cullen Investment Group LTD.’s holdings in Intel were worth $632,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC boosted its stake in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in Intel in the fourth quarter worth approximately $27,000. Frazier Financial Advisors LLC purchased a new stake in Intel in the fourth quarter worth approximately $27,000. Valued Wealth Advisors LLC bought a new stake in Intel in the fourth quarter valued at approximately $36,000. Finally, Signature Resources Capital Management LLC bought a new stake in Intel in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Roth Mkm lowered their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. TD Cowen lowered their price objective on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Morgan Stanley lowered their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, April 26th. Finally, Mizuho decreased their target price on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $39.58.

Intel Trading Down 1.1 %

Shares of NASDAQ:INTC opened at $30.63 on Thursday. The stock has a market capitalization of $130.39 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 14.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The stock’s 50-day simple moving average is $31.80 and its two-hundred day simple moving average is $40.08. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm 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%. Analysts expect that Intel Co. will post 0.09 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.63%. Intel’s payout ratio is 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.