Rep. Marjorie Taylor Greene Buys Intel Co. (NASDAQ:INTC) Stock

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Intel Co. (NASDAQ:INTC). In a filing disclosed on October 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Intel stock on October 21st.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Caterpillar (NYSE:CAT) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.

Intel Trading Down 1.9 %

Shares of NASDAQ INTC opened at $21.98 on Thursday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a 50-day moving average of $21.55 and a 200 day moving average of $27.67. The stock has a market cap of $93.57 billion, a P/E ratio of 22.90 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its 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 net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.27%. Intel’s payout ratio is 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTC. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Truist Financial decreased their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, Susquehanna cut their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.92.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. William B. Walkup & Associates Inc. bought a new stake in shares of Intel during the second quarter valued at approximately $2,178,000. Fortis Group Advisors LLC raised its position in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC purchased a new stake in shares of Intel in the third quarter worth approximately $8,045,000. Brookstone Capital Management lifted its position in shares of Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its holdings in Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after buying an additional 48,765 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.