Stock Yards Bank & Trust Co. reduced its stake in Intel Co. (NASDAQ:INTC – Free Report) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,281 shares of the chip maker’s stock after selling 12,667 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Intel were worth $3,587,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Frontier Wealth Management LLC grew its position in Intel by 0.5% during the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock valued at $2,181,000 after buying an additional 253 shares during the period. West Michigan Advisors LLC grew its position in shares of Intel by 5.4% during the 1st quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock valued at $255,000 after acquiring an additional 262 shares during the period. Ridgecrest Wealth Partners LLC grew its position in shares of Intel by 1.4% during the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 20,886 shares of the chip maker’s stock valued at $698,000 after acquiring an additional 288 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of Intel by 3.0% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 10,193 shares of the chip maker’s stock valued at $341,000 after purchasing an additional 300 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its holdings in Intel by 1.9% in the 2nd quarter. Everhart Financial Group Inc. now owns 16,159 shares of the chip maker’s stock worth $540,000 after purchasing an additional 303 shares during the period. 60.84% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
INTC has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Intel from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Mizuho upped their price objective on shares of Intel from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Wednesday, October 4th. Truist Financial upped their price target on shares of Intel from $32.00 to $37.00 and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Tigress Financial lowered their price objective on Intel from $72.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Five analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.58.
Intel Price Performance
INTC stock opened at $34.92 on Monday. Intel Co. has a 52-week low of $24.73 and a 52-week high of $40.07. The business has a fifty day moving average of $35.60 and a two-hundred day moving average of $33.46. The stock has a market cap of $146.24 billion, a price-to-earnings ratio of -158.72 and a beta of 0.87. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The firm had revenue of $12.95 billion during the quarter, compared to the consensus estimate of $12.03 billion. As a group, research analysts anticipate that Intel Co. will post -0.09 earnings per share for the current year.
Intel Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, August 4th. Intel’s dividend payout ratio (DPR) is -227.26%.
Insider Transactions at Intel
In other news, CEO Patrick P. Gelsinger bought 3,850 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $34.63 per share, with a total value of $133,325.50. Following the completion of the transaction, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger acquired 3,250 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $35.87 per share, with a total value of $116,577.50. Following the completion of the purchase, the chief executive officer now owns 139,715 shares in the company, valued at approximately $5,011,577.05. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price of $34.63 per share, with a total value of $133,325.50. Following the acquisition, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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