Penobscot Investment Management Company Inc. Grows Holdings in Intel Co. (NASDAQ:INTC)

Penobscot Investment Management Company Inc. increased its position in Intel Co. (NASDAQ:INTC) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,063 shares of the chip maker’s stock after acquiring an additional 1,910 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Intel were worth $2,968,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its position 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 acquiring an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp raised its position in Intel by 18.6% during the third 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 period. Wellington Management Group LLP boosted its holdings in shares of 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 during the period. Alecta Tjanstepension Omsesidigt bought a new position in shares of Intel during the 4th quarter valued at approximately $251,250,000. Finally, Parnassus Investments LLC lifted its position in Intel by 24.7% in the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after buying an additional 4,631,905 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of INTC traded down $0.53 during mid-day trading on Tuesday, hitting $30.83. 31,044,467 shares of the company were exchanged, compared to its average volume of 48,058,691. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a 50 day moving average of $40.63 and a 200-day moving average of $42.27. The stock has a market cap of $130.35 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel’s payout ratio is 52.08%.

Analyst Ratings Changes

Several research analysts have issued reports on INTC shares. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday. UBS Group lifted their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday. Susquehanna reduced their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Finally, HSBC reduced 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. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.75.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is owned by insiders.

Intel 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.