Intel (NASDAQ:INTC) Shares Down 1.1%

Intel Co. (NASDAQ:INTC) shares traded down 1.1% during mid-day trading on Wednesday . The company traded as low as $30.02 and last traded at $30.14. 15,654,682 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 48,144,047 shares. The stock had previously closed at $30.47.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Mizuho dropped their price target on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 26th. Sanford C. Bernstein dropped their price target on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Wells Fargo & Company dropped their price target on Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Bank of America dropped their price target on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.75.

Intel Price Performance

The company has a 50 day moving average of $40.35 and a 200 day moving average of $42.23. The firm has a market cap of $128.94 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 3.31 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Millennium Group LLC grew its holdings in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Frazier Financial Advisors LLC bought a new position in Intel during the fourth quarter worth about $27,000. Burkett Financial Services LLC bought a new position in Intel during the fourth quarter worth about $27,000. Tributary Capital Management LLC bought a new position in Intel during the first quarter worth about $27,000. Finally, Legacy Financial Group LLC bought a new position in Intel during the third quarter worth about $30,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.