Indiana Trust & Investment Management Co Lowers Stock Position in Intel Co. (NASDAQ:INTC)

by · The Cerbat Gem

Indiana Trust & Investment Management Co reduced its stake in Intel Co. (NASDAQ:INTC – Free Report) by 27.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,797 shares of the chip maker’s stock after selling 2,201 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Intel were worth $136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INTC. Vontobel Holding Ltd. grew its holdings in shares of Intel by 90.6% during the third quarter. Vontobel Holding Ltd. now owns 1,143,633 shares of the chip maker’s stock valued at $26,830,000 after buying an additional 543,598 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its stake in Intel by 3.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 126,494 shares of the chip maker’s stock valued at $2,968,000 after purchasing an additional 4,558 shares during the last quarter. Applied Capital LLC FL increased its holdings in shares of Intel by 5.1% in the 3rd quarter. Applied Capital LLC FL now owns 19,872 shares of the chip maker’s stock worth $466,000 after purchasing an additional 965 shares in the last quarter. 626 Financial LLC increased its holdings in shares of Intel by 5.6% in the 3rd quarter. 626 Financial LLC now owns 17,595 shares of the chip maker’s stock worth $413,000 after purchasing an additional 929 shares in the last quarter. Finally, Prospect Financial Services LLC purchased a new position in shares of Intel in the third quarter worth $276,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

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

Wall Street Analyst Weigh In

INTC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Roth Mkm lowered their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley cut their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.96.

Read Our Latest Research Report on Intel

Intel Trading Down 0.7 %

NASDAQ:INTC traded down $0.16 during midday trading on Wednesday, hitting $22.50. 40,085,270 shares of the company traded hands, compared to its average volume of 58,892,109. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average is $21.24 and its 200-day moving average is $28.37. The firm has a market capitalization 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.

Intel (NASDAQ:INTC – Get Free Report) last announced its 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the company posted ($0.05) EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

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

Intel Profile

(Free Report)

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.

Further Reading

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