Sumitomo Mitsui Trust Holdings Inc. Has $488.38 Million Holdings in Intel Co. (NASDAQ:INTC)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Intel Co. (NASDAQ:INTC) by 3.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,056,704 shares of the chip maker’s stock after acquiring an additional 332,173 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Intel were worth $488,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC raised its position in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Burkett Financial Services LLC acquired a new stake in Intel during the fourth quarter worth approximately $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new stake in Intel in the 1st quarter valued at $27,000. Finally, Valued Wealth Advisors LLC bought a new position in Intel during the 4th quarter worth $36,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 0.2 %

INTC traded up $0.05 during midday trading on Wednesday, hitting $31.12. The company had a trading volume of 3,795,660 shares, compared to its average volume of 46,294,973. The company has a market capitalization of $132.48 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 14.76 and a beta of 1.05. The stock’s 50 day moving average price is $31.01 and its 200 day moving average price is $39.36. 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 52 week low of $29.73 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last posted 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). Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. On average, research analysts anticipate that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on INTC shares. HSBC dropped their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Mizuho cut their price target on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Truist Financial decreased their price target on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Susquehanna reduced their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Citigroup decreased their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Three analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.58.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Patrick P. Gelsinger bought 4,000 shares of the stock in a transaction dated Monday, April 29th. The stock was bought 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 approximately $1,108,340.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, with a total value 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 disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

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.