New Jersey Better Educational Savings Trust Makes New $207,000 Investment in Intel Co. (NASDAQ:INTC)

New Jersey Better Educational Savings Trust bought a new position in shares of Intel Co. (NASDAQ:INTC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,121 shares of the chip maker’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in shares of Intel by 102.6% during the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 6,064,950 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after buying an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Intel during the fourth quarter valued at about $251,250,000. Finally, Parnassus Investments LLC lifted its position in shares of Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after buying an additional 4,631,905 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Intel Price Performance

Intel stock traded up $0.61 during trading on Thursday, reaching $35.11. The company had a trading volume of 66,064,457 shares, compared to its average volume of 47,235,727. The firm’s 50-day simple moving average is $41.29 and its 200 day simple moving average is $42.30. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The firm has a market capitalization of $148.45 billion, a PE ratio of 90.03, a price-to-earnings-growth ratio of 3.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post 0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on INTC shares. Barclays increased their price objective on shares of Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. UBS Group increased their price objective on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC decreased their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday. Truist Financial reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.38.

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.