Intel Co. (NASDAQ:INTC) Announces Quarterly Dividend of $0.13

Intel Co. (NASDAQ:INTC) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Wednesday, August 7th will be given a dividend of 0.125 per share by the chip maker on Sunday, September 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, August 7th.

Intel has decreased its dividend payment by an average of 17.5% annually over the last three years. Intel has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Intel to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 60.2%.

Intel Price Performance

INTC traded down $7.57 on Friday, reaching $21.48. 300,895,920 shares of the company’s stock were exchanged, compared to its average volume of 60,137,096. The stock has a market cap of $91.44 billion, a PE ratio of 22.38, a P/E/G ratio of 17.38 and a beta of 1.05. Intel has a twelve month low of $20.42 and a twelve month high of $51.28. The stock’s fifty day moving average price is $31.35 and its 200-day moving average price is $36.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Wall Street Analyst Weigh In

INTC has been the topic of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. TD Cowen reduced their price target on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, April 26th. Finally, Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $33.41.

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.