Intel Co. (INTC) Declares $0.30 Quarterly Dividend

Intel Co. (NASDAQ:INTC) announced a quarterly dividend on Friday, September 14th, RTT News reports. Investors of record on Wednesday, November 7th will be paid a dividend of 0.30 per share by the chip maker on Saturday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.63%.

Intel has increased its dividend payment by an average of 6.2% per year over the last three years and has raised its dividend every year for the last 3 years. Intel has a payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Intel to earn $4.26 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 28.2%.

Shares of INTC stock opened at $45.57 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35. Intel has a 1 year low of $36.16 and a 1 year high of $57.60. The firm has a market capitalization of $210.20 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm had revenue of $16.96 billion for the quarter, compared to analyst estimates of $16.78 billion. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. research analysts expect that Intel will post 4.15 EPS for the current year.

INTC has been the topic of several recent research reports. MKM Partners lowered their price target on shares of Intel to $58.00 and set a “buy” rating on the stock in a research note on Friday, August 24th. Bank of America lowered shares of Intel from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $56.00 in a research note on Friday, July 27th. Morgan Stanley lifted their price target on shares of Intel from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Macquarie set a $60.00 price target on shares of Intel and gave the company a “buy” rating in a research note on Thursday, August 16th. Finally, BidaskClub lowered shares of Intel from a “sell” rating to a “strong sell” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $55.55.

In other Intel news, CEO Robert Holmes Swan acquired 5,243 shares of the business’s stock in a transaction on Monday, July 30th. The stock was purchased at an average price of $47.69 per share, with a total value of $250,038.67. Following the acquisition, the chief executive officer now directly owns 71,672 shares of the company’s stock, valued at approximately $3,418,037.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $52.43, for a total transaction of $116,027.59. Following the completion of the sale, the executive vice president now directly owns 23,268 shares of the company’s stock, valued at approximately $1,219,941.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,077 shares of company stock valued at $205,757 in the last ninety days. 0.03% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mutual Advisors LLC increased its position in Intel by 1.8% during the 2nd quarter. Mutual Advisors LLC now owns 78,772 shares of the chip maker’s stock worth $3,916,000 after purchasing an additional 1,386 shares in the last quarter. Morse Asset Management Inc increased its position in Intel by 1.8% during the 2nd quarter. Morse Asset Management Inc now owns 129,380 shares of the chip maker’s stock worth $6,431,000 after purchasing an additional 2,230 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Intel during the 1st quarter worth approximately $120,000. Bridges Investment Management Inc. increased its position in Intel by 7.3% during the 2nd quarter. Bridges Investment Management Inc. now owns 58,746 shares of the chip maker’s stock worth $2,920,000 after purchasing an additional 4,000 shares in the last quarter. Finally, NorthCoast Asset Management LLC increased its position in Intel by 28.0% during the 2nd quarter. NorthCoast Asset Management LLC now owns 20,001 shares of the chip maker’s stock worth $994,000 after purchasing an additional 4,372 shares in the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Dividend History for Intel (NASDAQ:INTC)

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