Intel Co. (NASDAQ:INTC) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,292 shares of the chip maker’s stock after selling 5,408 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Intel were worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DDFG Inc acquired a new position in Intel in the fourth quarter valued at $205,000. Gryphon Financial Partners LLC increased its stake in Intel by 8.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock valued at $1,060,000 after purchasing an additional 1,601 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Intel in the fourth quarter valued at $501,000. Hillsdale Investment Management Inc. increased its stake in Intel by 110.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,250 shares of the chip maker’s stock valued at $264,000 after purchasing an additional 2,760 shares during the period. Finally, Gladstone Institutional Advisory LLC increased its stake in Intel by 28.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 50,977 shares of the chip maker’s stock valued at $2,562,000 after purchasing an additional 11,252 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $21.47 on Wednesday. The firm has a 50 day simple moving average of $24.45 and a 200-day simple moving average of $31.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a market cap of $91.40 billion, a PE ratio of 22.36 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

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

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on INTC shares. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Cantor Fitzgerald dropped their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Susquehanna lowered their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wedbush lowered their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.04.

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.