Intel Co. (NASDAQ:INTC) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lessened its position in shares of Intel Co. (NASDAQ:INTC) by 4.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,981 shares of the chip maker’s stock after selling 390 shares during the quarter. Independence Bank of Kentucky’s holdings in Intel were worth $353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Barrett & Company Inc. grew its position in shares of Intel by 6.1% in the fourth 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 last quarter. Revolve Wealth Partners LLC increased its position in Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after buying an additional 216 shares in the last quarter. New Millennium Group LLC raised its holdings in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the last quarter. Waldron Private Wealth LLC lifted its position in shares of Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. boosted its stake in shares of Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after acquiring an additional 246 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $30.97 on Friday. The business’s 50-day simple moving average is $31.08 and its 200 day simple moving average is $39.50. The company has a market cap of $131.84 billion, a P/E ratio of 32.26, a PEG ratio of 14.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a one year low of $29.73 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. On average, sell-side analysts forecast that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. Intel’s payout ratio is currently 52.08%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Bank of America reduced their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Susquehanna decreased their target price on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Evercore ISI cut their price target on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Finally, The Goldman Sachs Group lowered their price objective on Intel from $34.00 to $30.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $39.58.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the purchase, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the purchase, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Intel 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.