Franklin Parlapiano Turner & Welch LLC Acquires 12,991 Shares of Intel Co. (NASDAQ:INTC)

Franklin Parlapiano Turner & Welch LLC raised its holdings in Intel Co. (NASDAQ:INTC) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,629 shares of the chip maker’s stock after buying an additional 12,991 shares during the period. Intel comprises about 1.3% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 24th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Intel were worth $5,012,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 worth $17,186,478,000 after buying an additional 3,310,528 shares in the last quarter. Capital International Investors grew its stake 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 worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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. Finally, Legal & General Group Plc lifted its position in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of INTC opened at $21.98 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $21.55 and a 200-day moving average price of $27.67. The company has a market cap of $93.57 billion, a PE ratio of 22.90 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last announced 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). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

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

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on INTC shares. Daiwa America raised Intel to a “hold” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Roth Mkm decreased their price objective 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. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.92.

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.