BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $25.25 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 61.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 815,377 shares of the chip maker’s stock after purchasing an additional 310,322 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Intel were worth $25,252,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INTC. Burkett Financial Services LLC bought a new stake in Intel during the fourth quarter worth $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the 1st quarter worth $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel during the 1st quarter worth $36,000. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at about $25,000. Finally, Cyrus J. Lawrence LLC bought a new position in Intel in the second quarter valued at about $27,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC stock opened at $22.81 on Wednesday. The company has a market capitalization of $97.54 billion, a P/E ratio of 23.76 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The business has a 50-day simple moving average of $23.20 and a two-hundred day simple moving average of $30.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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 return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the company posted ($0.05) EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTC. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Roth Mkm lowered their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays cut their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $32.04.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

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.