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

Indiana Trust & Investment Management CO reduced its stake in Intel Co. (NASDAQ:INTC) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,568 shares of the chip maker’s stock after selling 458 shares during the period. Indiana Trust & Investment Management CO’s holdings in Intel were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INTC. New Millennium Group LLC lifted its stake in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of Intel in the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel during the 4th quarter valued at approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in Intel during the fourth quarter worth $36,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTC. Wells Fargo & Company decreased their price target on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, April 26th. UBS Group increased their price target on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Mizuho decreased their target price on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.58.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Intel Trading Up 1.2 %

NASDAQ INTC traded up $0.38 on Friday, hitting $30.97. 40,714,609 shares of the stock were exchanged, compared to its average volume of 46,837,355. The company has a market capitalization of $131.84 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 14.56 and a beta of 1.06. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company’s 50-day moving average price is $31.24 and its two-hundred day moving average price is $39.68.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Research analysts predict that Intel Co. will post 0.09 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is presently 52.08%.

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.