State of New Jersey Common Pension Fund D Has $119.69 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

State of New Jersey Common Pension Fund D increased its position in shares of Intel Co. (NASDAQ:INTC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,381,786 shares of the chip maker’s stock after purchasing an additional 16,508 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Intel worth $119,685,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in INTC. Barrett & Company Inc. grew its position in Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC grew its position in Intel by 3.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after purchasing an additional 216 shares during the period. New Millennium Group LLC grew its position in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Waldron Private Wealth LLC grew its position in Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the period. Finally, Spreng Capital Management Inc. grew its position in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday. HSBC dropped their price objective on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday. Stifel Nicolaus restated a “hold” rating and set a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Wedbush dropped their price objective on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group lowered their target price on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Friday. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.75.

Intel Trading Down 9.2 %

Shares of Intel stock traded down $3.23 during midday trading on Friday, reaching $31.88. 119,590,954 shares of the company’s stock traded hands, compared to its average volume of 48,144,715. The company has a market cap of $134.79 billion, a PE ratio of 81.28, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00. The stock has a 50 day moving average of $41.11 and a 200-day moving average of $42.25. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. Intel’s dividend payout ratio is currently 128.21%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

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.