Deseret Mutual Benefit Administrators Grows Stock Holdings in Intel Co. (NASDAQ:INTC)

Deseret Mutual Benefit Administrators lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,136 shares of the chip maker’s stock after acquiring an additional 689 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Intel were worth $562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors increased its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA raised its position in shares of Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after acquiring an additional 475,636 shares in the last quarter. Norges Bank purchased a new stake in shares of Intel during the 4th quarter worth $2,424,202,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 0.9 %

Intel stock traded up $0.18 during mid-day trading on Thursday, reaching $19.61. 6,768,247 shares of the company’s stock were exchanged, compared to its average volume of 53,901,129. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.84 and a twelve month high of $51.28. The company has a market cap of $83.48 billion, a P/E ratio of 20.24 and a beta of 1.05. The company has a fifty day moving average of $26.64 and a 200-day moving average of $32.85.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that Intel Co. will post -0.46 EPS for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.04.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

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.