Oak Asset Management LLC Acquires 513 Shares of Intel Co. (NASDAQ:INTC)

Oak Asset Management LLC grew its position in shares of Intel Co. (NASDAQ:INTC) by 0.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 134,058 shares of the chip maker’s stock after buying an additional 513 shares during the quarter. Intel accounts for 2.2% of Oak Asset Management LLC’s holdings, making the stock its 12th biggest position. Oak Asset Management LLC’s holdings in Intel were worth $5,921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares in the last quarter. Capital International Investors lifted its position in shares of Intel by 0.3% during the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after buying an additional 318,495 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares during the last quarter. Norges Bank purchased a new stake in shares of Intel during the 4th quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently issued reports on INTC. Truist Financial decreased their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, April 26th. The Goldman Sachs Group decreased their price target on shares of Intel from $34.00 to $30.00 and set a “sell” rating for the company in a research note on Thursday, May 9th. Sanford C. Bernstein decreased their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, April 26th. Finally, Roth Mkm decreased their price target on shares of Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.58.

Intel Stock Performance

NASDAQ INTC opened at $30.97 on Monday. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. 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 company has a market capitalization of $131.84 billion, a P/E ratio of 32.26, a P/E/G ratio of 14.76 and a beta of 1.05. The company has a fifty day moving average of $31.08 and a 200-day moving average of $39.46.

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

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

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.