Trust Co of Kansas Sells 65,582 Shares of Intel Co. (NASDAQ:INTC)

Trust Co of Kansas lessened its position in Intel Co. (NASDAQ:INTC – Get Rating) by 24.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,829 shares of the chip maker’s stock after selling 65,582 shares during the quarter. Intel accounts for 3.6% of Trust Co of Kansas’ portfolio, making the stock its 15th largest position. Trust Co of Kansas’ holdings in Intel were worth $5,278,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after purchasing an additional 342,649 shares during the last quarter. Axiom Financial Strategies LLC lifted its holdings in Intel by 21.6% during the 1st quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after buying an additional 1,056 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in Intel in the 1st quarter valued at about $142,000. Retirement Income Solutions Inc grew its stake in Intel by 5.1% in the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after acquiring an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after acquiring an additional 1,244,247 shares during the period. 59.48% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 1.4 %

Intel stock opened at $28.41 on Thursday. The stock has a 50-day moving average price of $28.02 and a 200 day moving average price of $28.15. The company has a market capitalization of $117.53 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 8.70 and a beta of 0.81. Intel Co. has a 52 week low of $24.59 and a 52 week high of $52.51. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.36.

Intel (NASDAQ:INTC – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a net margin of 12.71% and a return on equity of 7.45%. The business had revenue of $14.04 billion during the quarter, compared to analysts’ expectations of $14.49 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue was down 31.6% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post 0.55 EPS for the current year.

Intel Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a dividend yield of 1.76%. Intel’s dividend payout ratio (DPR) is presently 74.49%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley raised Intel from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $29.50 to $28.00 in a research note on Thursday, February 23rd. Sanford C. Bernstein set a $20.00 price target on Intel in a research note on Friday, January 27th. Mizuho lowered their price objective on shares of Intel from $32.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. Wells Fargo & Company cut their target price on shares of Intel from $32.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, January 27th. Finally, The Goldman Sachs Group set a $24.00 price target on shares of Intel in a research report on Friday, January 27th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $29.28.

Insider Transactions at Intel

In related news, CFO David Zinsner purchased 1,800 shares of Intel stock in a transaction that occurred on Monday, January 30th. The stock was bought at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the transaction, the chief financial officer now owns 17,450 shares in the company, valued at $486,680.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO David Zinsner purchased 1,800 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the transaction, the chief financial officer now owns 17,450 shares in the company, valued at $486,680.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger acquired 9,700 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was purchased at an average price of $25.68 per share, with a total value of $249,096.00. Following the transaction, the chief executive officer now owns 18,700 shares of the company’s stock, valued at approximately $480,216. The disclosure for this purchase can be found here. Insiders have purchased 20,500 shares of company stock worth $549,768 over the last quarter. 0.02% of the stock is currently owned by insiders.

About Intel

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.