Busey Bank Decreases Stake in Intel Co. (NASDAQ:INTC)

Busey Bank lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,535 shares of the chip maker’s stock after selling 7,144 shares during the period. Busey Bank’s holdings in Intel were worth $2,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Silver Oak Securities Incorporated increased its stake in shares of Intel by 12.1% in the 3rd quarter. Silver Oak Securities Incorporated now owns 28,598 shares of the chip maker’s stock worth $653,000 after acquiring an additional 3,087 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Intel by 14.9% in the third quarter. Legacy Capital Group California Inc. now owns 32,544 shares of the chip maker’s stock valued at $763,000 after purchasing an additional 4,228 shares during the period. IFM Investors Pty Ltd increased its position in Intel by 0.8% during the third quarter. IFM Investors Pty Ltd now owns 878,882 shares of the chip maker’s stock worth $20,619,000 after purchasing an additional 7,203 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Intel by 105.3% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 20,635 shares of the chip maker’s stock worth $484,000 after purchasing an additional 10,585 shares during the period. Finally, Lafayette Investments Inc. boosted its holdings in Intel by 1.2% in the 3rd quarter. Lafayette Investments Inc. now owns 59,114 shares of the chip maker’s stock valued at $1,387,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTC. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.92.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.

Intel Trading Up 1.6 %

NASDAQ INTC opened at $22.34 on Friday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm has a 50 day moving average of $21.55 and a two-hundred day moving average of $27.67. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $95.10 billion, a PE ratio of 23.27 and a beta of 1.03.

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

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

About Intel

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.