Busey Bank Sells 7,144 Shares of Intel Co. (NASDAQ:INTC)

Busey Bank decreased its holdings in Intel Co. (NASDAQ:INTC) by 5.6% in the third quarter, according to its most recent disclosure with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of INTC. Tributary Capital Management LLC bought a new position in shares of Intel in the 1st quarter worth $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Intel during the first quarter valued at approximately $36,000. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the second quarter valued at approximately $27,000. Finally, Spartan Fund Management Inc. purchased a new position in Intel in the second quarter worth $31,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Trading Up 1.6 %

INTC stock opened at $22.34 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company’s 50-day simple moving average is $21.55 and its 200-day simple moving average is $27.67. The firm has a market cap of $95.10 billion, a P/E ratio of 23.27 and a beta of 1.03.

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

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INTC shares. The Goldman Sachs Group lowered their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. UBS Group dropped their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.92.

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.