Intel Co. (NASDAQ:INTC) Shares Purchased by Keene & Associates Inc.

Keene & Associates Inc. raised its stake in Intel Co. (NASDAQ:INTC) by 14.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 90,114 shares of the chip maker’s stock after buying an additional 11,496 shares during the quarter. Intel makes up about 2.3% of Keene & Associates Inc.’s investment portfolio, making the stock its 27th largest holding. Keene & Associates Inc.’s holdings in Intel were worth $2,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. Capital International Investors raised its stake in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers grew its position in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after buying an additional 4,678,169 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Intel Price Performance

Shares of NASDAQ:INTC opened at $19.66 on Monday. The firm has a market cap of $84.07 billion, a price-to-earnings ratio of 20.48 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $24.98 and a 200 day simple moving average of $31.60.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.54%. Intel’s dividend payout ratio (DPR) is 52.08%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INTC shares. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Barclays dropped their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Finally, Northland Securities cut their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $32.04.

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.