State of New Jersey Common Pension Fund D Has $119.69 Million Position in Intel Co. (NASDAQ:INTC)

State of New Jersey Common Pension Fund D raised its stake in shares of Intel Co. (NASDAQ:INTC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,381,786 shares of the chip maker’s stock after buying an additional 16,508 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Intel were worth $119,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INTC. New Millennium Group LLC lifted its stake in shares of Intel by 87.2% in the 4th 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 last quarter. Legacy Financial Group LLC bought a new position in Intel in the 3rd quarter worth $30,000. Raleigh Capital Management Inc. raised its holdings in Intel by 62.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares during the period. Valued Wealth Advisors LLC bought a new position in Intel in the 4th quarter worth $36,000. Finally, Briaud Financial Planning Inc bought a new position in Intel in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INTC. Mizuho dropped their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday. Susquehanna reduced their target price on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Truist Financial reduced their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Sanford C. Bernstein cut their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

Intel stock traded down $3.23 during mid-day trading on Friday, reaching $31.88. The company’s stock had a trading volume of 119,590,954 shares, compared to its average volume of 48,144,715. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a market capitalization of $134.79 billion, a P/E ratio of 81.28, a PEG ratio of 3.13 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. The firm’s fifty day moving average price is $41.11 and its two-hundred day moving average price is $42.25.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 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 during the quarter, compared to analyst estimates of $15.16 billion. During the same period in the previous year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is currently 128.21%.

Insider Transactions at Intel

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