Indiana Trust & Investment Management Co Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Indiana Trust & Investment Management Co lessened its holdings in Intel Co. (NASDAQ:INTC) by 27.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,797 shares of the chip maker’s stock after selling 2,201 shares during the period. Indiana Trust & Investment Management Co’s holdings in Intel were worth $136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. America First Investment Advisors LLC bought a new position in Intel in the second quarter worth about $25,000. Tributary Capital Management LLC bought a new position in shares of Intel during the 1st quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the second quarter valued at approximately $27,000. Spartan Fund Management Inc. acquired a new stake in Intel in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel in the second quarter worth $32,000. 64.53% of the stock is currently owned by institutional investors.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is owned by corporate insiders.

Intel Stock Performance

INTC traded down $0.16 on Wednesday, reaching $22.50. The stock had a trading volume of 40,085,270 shares, compared to its average volume of 58,892,109. The business’s 50-day moving average price is $21.24 and its two-hundred day moving average price is $28.37. The company has a market cap of $95.78 billion, a P/E ratio of 23.00 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. Sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.22%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Ratings Changes

Several analysts have recently commented on INTC shares. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.96.

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.