Park National Corp OH Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Park National Corp OH lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 14.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,398 shares of the chip maker’s stock after selling 32,872 shares during the quarter. Park National Corp OH’s holdings in Intel were worth $8,454,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Intel in the 4th quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. California Public Employees Retirement System lifted its stake in shares of Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Wellington Management Group LLP lifted its stake 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. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in Intel during the 4th quarter worth approximately $251,250,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction dated Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on INTC shares. The Goldman Sachs Group decreased their target price on shares of Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley dropped their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Barclays lowered their target price on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, April 26th. Finally, TD Cowen decreased their price objective on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.58.

Intel Price Performance

NASDAQ INTC traded down $0.36 during mid-day trading on Tuesday, hitting $30.62. The stock had a trading volume of 18,352,526 shares, compared to its average volume of 46,871,191. The firm’s 50 day moving average is $32.08 and its 200 day moving average is $40.24. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market capitalization of $130.35 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 14.52 and a beta of 1.06.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Equities research analysts forecast that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.