Brighton Jones LLC Raises Stock Position in Intel Co. (NASDAQ:INTC)

Brighton Jones LLC increased its position in shares of Intel Co. (NASDAQ:INTC) by 0.8% in the 4th quarter, HoldingsChannel reports. The fund owned 171,688 shares of the chip maker’s stock after acquiring an additional 1,445 shares during the period. Brighton Jones LLC’s holdings in Intel were worth $8,627,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. California Public Employees Retirement System lifted its holdings in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after purchasing an additional 6,064,950 shares during the last quarter. Wellington Management Group LLP boosted its stake in Intel by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in Intel during the 4th quarter worth approximately $251,250,000. Finally, Parnassus Investments LLC increased its stake in Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after purchasing an additional 4,631,905 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of Intel stock traded down $0.89 during trading on Tuesday, reaching $30.47. The company’s stock had a trading volume of 72,176,616 shares, compared to its average volume of 48,540,945. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The firm has a market cap of $128.83 billion, a PE ratio of 32.34, a P/E/G ratio of 2.89 and a beta of 1.00. The company has a 50-day moving average price of $40.63 and a two-hundred day moving average price of $42.27.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on INTC. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday. HSBC decreased their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Susquehanna dropped their target price on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday. Morgan Stanley decreased their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.75.

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.