Oak Asset Management LLC Buys 513 Shares of Intel Co. (NASDAQ:INTC)

Oak Asset Management LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,058 shares of the chip maker’s stock after purchasing an additional 513 shares during the period. Intel accounts for approximately 2.2% of Oak Asset Management LLC’s holdings, making the stock its 12th largest holding. Oak Asset Management LLC’s holdings in Intel were worth $5,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INTC. New Millennium Group LLC lifted its holdings in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Intel during the fourth quarter worth about $27,000. Burkett Financial Services LLC bought a new position in Intel during the fourth quarter worth about $27,000. Raleigh Capital Management Inc. lifted its holdings in Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after acquiring an additional 362 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in Intel during the fourth quarter worth about $36,000. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of NASDAQ INTC opened at $30.97 on Monday. The business’s 50 day moving average price is $31.08 and its two-hundred day moving average price is $39.46. The company has a market cap of $131.84 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 14.76 and a beta of 1.05. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. On average, analysts predict that Intel Co. will post 0.09 EPS for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is 52.08%.

Analysts Set New Price Targets

Several research firms have weighed in on INTC. The Goldman Sachs Group reduced their target price on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. HSBC reduced their target price on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, April 26th. StockNews.com upgraded Intel from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Bank of America cut their price target on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.58.

Insider Activity

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

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.