Independence Bank of Kentucky Trims Stock Position in Intel Co. (NASDAQ:INTC)

Independence Bank of Kentucky trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,156 shares of the chip maker’s stock after selling 3,774 shares during the period. Independence Bank of Kentucky’s holdings in Intel were worth $224,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Dunhill Financial LLC grew its position in Intel by 22.6% during the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after acquiring an additional 438 shares during the last quarter. MKT Advisors LLC grew its holdings in shares of Intel by 4.8% during the third quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock worth $241,000 after purchasing an additional 490 shares during the last quarter. Beaton Management Co. Inc. raised its holdings in shares of Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after buying an additional 500 shares during the last quarter. Everpar Advisors LLC lifted its position in Intel by 5.1% during the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after buying an additional 504 shares in the last quarter. Finally, Missouri Trust & Investment Co grew its holdings in Intel by 3.6% during the 4th quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker’s stock worth $314,000 after acquiring an additional 550 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INTC shares. JPMorgan Chase & Co. dropped their target price on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday. Rosenblatt Securities reiterated a “sell” rating and issued a $20.00 price objective on shares of Intel in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday. Wells Fargo & Company decreased their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.60.

Intel Price Performance

Shares of INTC opened at $19.43 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63. The stock has a market capitalization of $83.80 billion, a P/E ratio of -5.22, a P/E/G ratio of 9.64 and a beta of 1.07. The company has a 50 day moving average of $20.78 and a 200-day moving average of $22.43.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. As a group, equities research analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Intel Company 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.