Intel Corp (NASDAQ:INTC) CEO Patrick P. Gelsinger engaged in a series of transactions involving the company's stock, according to a recent filing with the Securities and Exchange Commission. Gelsinger purchased shares valued at approximately $124,172 and sold shares totaling about $103,549.
The transactions took place on April 30 and May 1, 2024. Gelsinger acquired 4,100 shares of Intel common stock at a weighted average purchase price between $30.27 and $30.30, as detailed in the footnotes of the filing. This acquisition was executed in multiple trades, reflecting the weighted average price.
On the same day, Gelsinger also disposed of 3,362 shares at a price of $30.80 per share. The total sale amounted to $103,549, aligning with the CEO's reported transactions.
The filing also noted a direct ownership of 110,652 shares following the transactions, indicating a significant stake in the company by the CEO. Additionally, the reporting person undertook to provide full information regarding the number of shares and prices at which the transactions were effected upon request.
Investors often monitor the buying and selling activities of company executives as these transactions can provide insights into their confidence in the company's future performance. Gelsinger's recent activities show both acquisition and disposition of shares, reflecting a dynamic approach to managing his investment in Intel.
InvestingPro Insights
Intel Corp's CEO Patrick Gelsinger's recent stock transactions have caught the attention of investors, signaling his active engagement with his holdings in the company. To further understand the context of these transactions, let's consider some key metrics and insights from InvestingPro that shed light on Intel's current market position and future outlook.
InvestingPro Data indicates that Intel has a market capitalization of $129.92 billion and is trading at a P/E ratio of 31.51, which is slightly adjusted to 30.97 when looking at the last twelve months as of Q1 2024. Despite a slight revenue decline of 2.09% over the last twelve months, the company showed an 8.61% revenue growth in Q1 2024. This mixed financial performance is coupled with a gross profit margin of 41.49%, highlighting the company's ability to maintain profitability.
In terms of stock performance, Intel has experienced a significant price drop, with a 1-month total return of -30.88%, and a 3-month total return of -28.5%. This decline is also reflected in the 1-week price total return of -13.5%, which aligns with the InvestingPro Tip that the stock has taken a big hit over the last week. Additionally, the stock's RSI suggests it is in oversold territory, which could be of interest to investors looking for potential entry points.
Another InvestingPro Tip to consider is that Intel has maintained dividend payments for 33 consecutive years, with a current dividend yield of 1.65%. This consistent dividend history may appeal to income-focused investors, especially in the context of the CEO's recent stock transactions.
For those seeking more insights, there are 13 additional tips available on InvestingPro for Intel, which could provide a deeper analysis of the company's financial health and stock performance. To access these tips and more, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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