California Public Employees Retirement System Purchases 8,140,835 Shares of Intel Co. (NASDAQ:INTC)

California Public Employees Retirement System increased its stake in Intel Co. (NASDAQ:INTC) by 102.6% in the 4th quarter, Holdings Channel reports. The fund owned 16,074,760 shares of the chip maker’s stock after buying an additional 8,140,835 shares during the quarter. California Public Employees Retirement System’s holdings in Intel were worth $807,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barrett & Company Inc. lifted its holdings in shares of Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after purchasing an additional 216 shares during the last quarter. New Millennium Group LLC raised its position in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares during the period. Waldron Private Wealth LLC lifted its stake in shares of Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. grew its stake in Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after buying an additional 246 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Up 0.6 %

Shares of INTC stock traded up $0.21 during trading hours on Monday, reaching $34.41. 39,885,566 shares of the stock traded hands, compared to its average volume of 46,896,105. The business has a fifty day moving average price of $41.85 and a 200 day moving average price of $42.38. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $145.49 billion, a PE ratio of 88.26, a PEG ratio of 3.07 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Intel Co. will post 0.61 EPS for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s payout ratio is currently 128.21%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INTC shares. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, January 26th. Wedbush reissued a “neutral” rating and set a $40.00 target price on shares of Intel in a report on Wednesday, April 17th. Barclays boosted their price objective on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, February 23rd. Finally, TD Cowen dropped their price objective on shares of Intel from $45.00 to $42.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.62.

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.