Independence Bank of Kentucky Has $418,000 Position in Intel Co. (NASDAQ:INTC)

Independence Bank of Kentucky decreased its position in shares of Intel Co. (NASDAQ:INTC) by 37.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,502 shares of the chip maker’s stock after selling 7,470 shares during the quarter. Independence Bank of Kentucky’s holdings in Intel were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. Psagot Value Holdings Ltd. Israel boosted its stake in shares of Intel by 43.7% in the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock valued at $142,000 after purchasing an additional 1,356 shares during the last quarter. Avaii Wealth Management LLC acquired a new stake in Intel in the first quarter valued at approximately $354,000. ProShare Advisors LLC increased its stake in Intel by 11.3% during the 1st quarter. ProShare Advisors LLC now owns 4,754,164 shares of the chip maker’s stock valued at $155,319,000 after purchasing an additional 483,917 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Intel by 27.7% in the 1st quarter. Spire Wealth Management now owns 40,570 shares of the chip maker’s stock worth $1,325,000 after acquiring an additional 8,790 shares during the last quarter. Finally, Nishkama Capital LLC purchased a new stake in shares of Intel in the first quarter worth approximately $12,023,000. 60.84% of the stock is currently owned by institutional investors.

Intel Stock Down 2.0 %

Shares of NASDAQ INTC opened at $37.88 on Friday. The company has a market cap of $158.64 billion, a price-to-earnings ratio of -172.17 and a beta of 0.89. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $34.88 and its 200 day moving average is $32.09. Intel Co. has a 52 week low of $24.59 and a 52 week high of $40.07.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.03 billion. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. On average, equities research analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, August 4th. Intel’s payout ratio is -227.26%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 3,250 shares of the stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $35.87 per share, for a total transaction of $116,577.50. Following the completion of the acquisition, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Patrick P. Gelsinger bought 3,250 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average price of $35.87 per share, with a total value of $116,577.50. Following the transaction, the chief executive officer now owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average price of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, the chief executive officer now directly owns 105,495 shares of the company’s stock, valued at $3,653,291.85. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Intel from $40.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, July 28th. Wedbush upped their target price on Intel from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Robert W. Baird lifted their price objective on Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. UBS Group upped their price objective on shares of Intel from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Finally, Mizuho boosted their price target on shares of Intel from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $33.55.

Intel Profile

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.